Home Loan Closuring Disclosure is showing that we owe $2300 more in Closing Costs
than Estimate showed. What can I do?
Back in November of 2015 we got a good-faith estimate of $16,600 in Closing Costs with $10,709 in seller credits from Lennar, the builder. Our total estimated closing costs out of pocket were $6428.
Today, one week before closing here in July 2016, we got our Closing Disclosure, and there are some significant changes. It's showing a total Closing Costs of $24,795 with $16,000 in seller credits, the max credit from builder. But our closing costs out of pocket is now $8795.
That's a difference of $2300 in additional closing costs for us! One week before closing!
We compared the two and here are the major line item differences:
Under "G. Initial Escrow
Payment at Closing":
- Property tax
in Escrow for 11 months at $540 = $5947 (was 3 months = $1622 on estimate)
Under "Other Costs - E. Taxes and Other Government Fees"
- City/County Tax Stamps = $821 (not on estimate)
- Document Stamps on Deed = $3028 (not on estimate)
- State or Mtg Registration Tax = $1438 (not on estimate)
What are my options??? The LENDER screwed up on the estimate and now WE have to pay? Sounds like a scam. What should I say to our loan officer?
Even though Lennar (the builder) is showing as the one who is paying the transfer taxes under "Other Costs - E." with their $16,000 credit, shouldn't those fees not count against my total closing costs because they are a Zero Tolerance fee with the TILA-RESPA
and WERE NOT on my estimate?