Real Estate Law

Have real estate law questions? Ask a real estate lawyer.

Ask a Lawyer,
Get an Answer ASAP!

What is a good website that can show me a mortgage lender…

Customer Question
What is a good website...
What is a good website that can show me a mortgage lender with the lowest points and interest?
Submitted: 2 years ago.Category: Real Estate Law
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 4 minutes by:
2/17/2016
Real Estate Lawyer: Ray, Lawyer replied 2 years ago
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 48,804
Experience: Texas Attorney for 30 years dealing in real estate
Verified

Hi and welcome to JA. Ray here to help you .

Here are estimated closing costs and interest in one site.Know that all closing costs are estimated and may vary slightly.

http://www.bankrate.com/finance/mortgages/closing-costs/new-york.aspx

Ask Your Own Real Estate Law Question
Customer reply replied 2 years ago

hi

thank you for your response but what I meant was that is there anything I can compare lenders.

Real Estate Lawyer: Ray, Lawyer replied 2 years ago

All the lenders are going to be close to the same amount.

Here is a more detailed memo about closing costs in NYC, the variable here is the amount of the purchase , it will change this, the higher the dale the higher closing costs.

http://agmblaw.com/wp-content/uploads/2015/03/AGMB-LLP-Closing-Costs-Guide-2015.pdf

Ask Your Own Real Estate Law Question
Real Estate Lawyer: Ray, Lawyer replied 2 years ago

A good rule of thumb is to set aside roughly 2 to 3 percent of the purchase price or 3 to 4 percent if the apartment is over $1 million (to cover the so-called mansion tax, a state property tax).

Closing costs will be higher if you’re buying a condo. First off, you’ll have to cover title insurance. The state determines rates for the insurance itself, and there are also various administrative charges, so expect to spend about $3,000 to $4,000. Co-ops don’t require title insurance, since technically there’s no transfer of title for real property, since you’re buying shares in a corporation.

Secondly, if you need a mortgage to buy a condo , expect to pay $2,000 to $3,000 for bank fees, including your bank attorney’s fees and an appraisal, which may start at $500 and climb quite a bit higher, depending on the purchase price. You’ll also have to cover a mortgage tax of 1.925 percent for loans over $500,000 or 1.8 percent for loans under $500,000. Again, this only applies to condos.

The last big charge is for attorney’s fees, which vary quite a bit, but tend to range from $2,000 to $5,000 for lawyers who specialize in real estate deals.

Ask Your Own Real Estate Law Question
Real Estate Lawyer: Ray, Lawyer replied 2 years ago

so if under a million here plan on 3%, 4% if over a million, this would be a no more than amount here, it may be less.

Thats the best guestimate I can give you here.It's pretty close to give you a feel for what you are looking at.This will not vary a lot between lenders.

Ask Your Own Real Estate Law Question
Real Estate Lawyer: Ray, Lawyer replied 2 years ago

Calculator plug in the sales price this is pretty accurate.

https://smartasset.com/mortgage/closing-costs#Ger5cOvU0u

Thanks again for the chance to help and good luck here with all of this.

Ask Your Own Real Estate Law Question
Real Estate Lawyer: Ray, Lawyer replied 2 years ago

Lenders here are not going to quote closing costs but you can calculate and know pretty close what all of them would charge.It doesn't vary that much.

Ask Your Own Real Estate Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a real estate lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Ray Your Own Question
Ray
Ray
Ray, Lawyer
Category: Real Estate Law
Satisfied Customers: 48,804
48,804 Satisfied Customers
Experience: Texas Attorney for 30 years dealing in real estate

Ray is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Barrister

Barrister

Lawyer

12,142 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

8,377 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

48,804 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,208 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,998 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

P. Simmons

P. Simmons

Lawyer

3,572 satisfied customers

12+ yrs. of experience including real estate law.

< Previous | Next >

Related Real Estate Law Questions
I'm getting a loan thru a broker that's also a lender, Is it
I'm getting a loan thru a broker that's also a lender, Is it any different in the way the mortgage is worded, is one or the other better to have?… read more
DamienJD
DamienJD
Attorney
Doctoral Degree
5,321 satisfied customers
I live in and my house had a nonjudicial foreclosure on
I live in Virginia and my house had a nonjudicial foreclosure on 12/17/2015. At the auction the lender asked for $604,000 as the lowest bid and no one bid, and house went back to lender. My soon to be… read more
Roger
Roger
Litigation Attorney
Doctoral Degree
26,939 satisfied customers
When a mortgage company also collects taxes and insurance
When a mortgage company also collects for property taxes and insurance through an escrow account. Are there any laws that restrict the mortgage company from collecting too much each month. If the lowe… read more
Ray
Ray
Lawyer
Doctoral Degree
48,804 satisfied customers
I am planning to buy an owner occupied house in the State of
I am planning to buy an owner occupied house in the State of Maryland and am researching the cost of financing. Can you provide me with a list of what typically is included in closing costs and what t… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
I purchased my home for $89,500 about 15 years ago and had
I purchased my home for $89,500 about 15 years ago and had a monthly mortgage payment of about $850. Not knowing any better I got a second mortgage a couple years later, have refinanced a couple times… read more
LegalKnowledge
LegalKnowledge
Juris Doctor
30,932 satisfied customers
my mortgage was sold 5 times the last servicer di dnot adjust
my mortgage was sold 5 times the last servicer di dnot adjust the ARM to the correct amount more than 2 years ago my loan was since sold to my current company. last month they contacted me and stated … read more
Legalease
Legalease
Attorney At Law
Doctor of Law w/ highest honors
15,719 satisfied customers
We are looking at buying our first home. I have good credit,
We are looking at buying our first home. I have good credit, but my wife does not. However, my wife earns considerably more than I do. The mortgage lender suggested that we do the loan in my name, but… read more
LegalKnowledge
LegalKnowledge
Juris Doctor
30,932 satisfied customers
I dont live in NJ but I have an investment property in Newark
I don't live in NJ but I have an investment property in Newark NJ I hope to refinance. Would it be wise to initiate and hope to complete the process from where I live, without traveling to NJ, except … read more
Attyadvisor
Attyadvisor
Doctoral Degree
8,337 satisfied customers
Background: I initially purchased a home in Portland Oregon
Background: I initially purchased a home in Portland Oregon in March 06, financing $750k with WAMU. Had loan mod on my desk the day WAMU went under. Chase refused to honor it, and have been going back… read more
Dimitry Esquire
Dimitry Esquire
Attorney
Doctoral Degree
5,526 satisfied customers
My Daughter got an fha loan for a house in new orleans la.
My Daughter got an fha loan for a house in new orleans la. Jefferson parish with my economic help. Daughter has no job or means to support the mortgage. Daughter wants to quit claim the house to mothe… read more
Dimitry Esquire
Dimitry Esquire
Attorney
Doctoral Degree
5,526 satisfied customers
My fiance wants to help bring down my mortgage on my house
My fiance wants to help bring down my mortgage on my house in New Jersey. It is an adjustable mortgage 7.8 and will be going up come August. I have never been late and with his help we have been payin… read more
Ely
Ely
Counselor at Law
Juris Doctor
4,998 satisfied customers
Can a mortgage company refuse to take your funds that are owed
Can a mortgage company refuse to take your funds that are owed the home doesn't go into foreclosure until after Jan 1, but they say we cannot wire the funds owed to them now,need to go through lawyers… read more
Irwin Law
Irwin Law
Juris Doctor JD
7,182 satisfied customers
I own a home which I finished paying my mortgage in 1998. While
I own a home which I finished paying my mortgage in 1998. While doing some research on the internet recently, I learned that the mortgage lien was never removed from my records. Unfortunately, the ban… read more
Dave Kennett
Dave Kennett
Doctoral Degree
25,741 satisfied customers
Good evening, We have recently been told by Wells Fargo that
Good evening, We have recently been told by Wells Fargo that our escrow account is short over 4,000. The cause of this is that they looked on cook county il assessor website and took the first install… read more
Alex Esquire
Alex Esquire
Managing Attorney
Doctoral Degree
153 satisfied customers
I am in escrow on a house in California closing this Friday.
I am in escrow on a house in California closing this Friday. We got our loan through a mortgage broker. When we signed the closing papers we noticed a $3340 "Yield Spread Premium" paid by the bank to … read more
Tina
Tina
Doctoral Degree
83 satisfied customers
I know that obama has passed new legislation concerning Loan
I know that obama has passed new legislation concerning Loan modifications for home owners. Well I'm presently trying to avert /delay a foreclosure sale. 1]Can this new legislation help? 2]What point … read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
Has RESPA added something so builders have to give the same
Has RESPA added something so builders have to give the same package to customer even if they don't use the builder lender and if so where can I find this info.… read more
christygold
christygold
Attorney
Doctoral Degree
294 satisfied customers
i own two properties - a year ago i applied to 3 different
i own two properties - a year ago i applied to 3 different bank for a home equity loan trying to get the lowest interest rate. they all approved me with a very good rate and sent their personnel with … read more
VF LAW
VF LAW
J.D.
112 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x