Newsflash: First time home buyer – choosing between two lenders (comparing fees) – New Jersey

Good afternoon,As the title suggests, I am comparing fees prior to obtaining my mortgage (see below). I am having a tough time comparing the two fees as both list different types of fees that I may incur at closing. Any help comparing the two would be greatly appreciated. Thank you.Lender 1 (broker)Attorney Fee: $1,400Closing Fee: $400 (“settlement agent/attorney closing fee”)Survey Fee: $795 (“this will be ordered by your attorney”)Title Insurance and miscellaneous title fees: $1,850 (“attorney will provide title company”)Appraisal Fee: $475 (“this will be paid at closing or before the service is completed it is up to you”)Property tax escrow: $3,187.32 (“4 months current taxes, it is generally anywhere from 3-5 months”)Homeowners insurance escrow: $375 (“5 months $75, approximate”)Credit report: $34Total: $8,366Lender 2 (actual lender)Appraisal Fee – $475Credit Report Fee – $40Application Fee – $1245 (says will issue credit to offset fee)Flood Cert. Fee – $7Final Inspection Fee – $150IRS Transcript Fee – $20Title Examination Fee – $175Title – Owners Policy – $1,100Lender’s title insurance – $1062Attorney Fees – $1400Recording Fee – $300Interest for 15 days – $567Hazard insurance premium – $600Hazard Insurance Escrows – $100County Property Taxes – $1182.06Total – $8059.16edit: formatting



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