Negotiating the best mortgage

[winjitsu]

Geez personally doing a cash out refi at the moment. Asked an old acquaintance who is a mortgage broker, but looking at your guy's fees, i'm now slightly worried I may be getting ripped off.

 

Location: Seattle Area

3.125% 15yr fixed (was way cheaper than the bank rates I saw on the internet by about 200-300 bp)

Condo

75% LTV

 

Quoted at ~$3000 in fees. His breakdown was 400-600 for appraisal, 1100 for his fee, 1200 for title and escrow and some other small fees.

 

That being said, the 3.125 rate comes with ~$900 coming my way, so all in I'm in for about $2100 net for fees. Had the option to pay ~$900 the other way to get a rate closer to 2.9%. Also have a 6 month float down period where I can re-adjust my rate free of charge if it goes down.

 

Anyone have any experience with this?