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Hi Fishies,
Looking for any reviews/suggestions regarding Pubmatic. Most important is the tech stack and learning aspects.
Big data technologies(Scala-Spark etc) and Java.
Also in discussion with Impetus and Autodesk (via third party i.e. Applicantz).
CTC is not a concern right now as what they are offering is enough for me right now.
Any suggestions would be helpful
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Bain & Company Help a brother out and like this post so I can dm! Also, would be really grateful if anyone is willing to give me a referral to their firm. I graduate this year and interned in the strategy group at KPMG this summer McKinsey & Company EY-Parthenon Deloitte Strategy& Bain & Company Accenture
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Mentor
We’d have to see the closing disclosure statement. Some of those costs like title insurance are based on the amount of the loan.
Escrow is based on what is being escrowed (taxes, insurance or both) and should be equal to actual costs for a certain period of month. Can you post a photo of the closing disclosure statement?
There are a lot of variables that can affect the escrow and closing costs so it’s hard to say if these are acceptable amounts. I would ask the lender for a breakdown of the numbers and validate them individually to see if anything looks off.
What is the loan amount in request? I can get funded at an affordable rate.
Mentor
Escrow is just a prepayment of actual expenses so that’s likely reasonable. $10k seems like a lot unless you are buying down the rate (ie paying points).
Assuming you are buying a new home or a newly constructed home as the first owner, your tax escrows are projected using an estimated future assessed value. Say the land you're building in has a tax bill of 200.0p a year, but you're building a 200,000.00 home on it .. the value of the property has just gone up. The appraised value of the home is the amount the lender needs to collect escrow on.
They don't keep this money. It is upfront payment for future disbursement to the tax office in your county/city.
Same for insurance escrows. The amount pre collected is based on the future replacement value of the home.
Upfront interest is often collected based on thenexpected time period between completion of a new home and modification of your loan to the permanent financing you agreed upon.
Closing costs not including escrows could be lenders origination, processing, and underwriting fees which are pretty standard. Some lenders also charge a servicing fee for construction administration. Some loans also have points that buy down the interest in your loan(this helps you).
Then, Title insurance, (which is what I do). Title insurance fees are based on the purchase price, loan amount or insurance type.. this type of insurance protects you and the lender should anyone try to claim 1. They have a superior interest in your property and 2. That party claims their interest in the property is also superior to the loan interest. Title companies or attorneys issuing title insurance may also close the loan which has cost associated with that including notary fees, property history search fees, mailing or banking fees. Most owners policies are voluntary but lenders policies are usually required with any loan. There may also be a discounted premium if both are purchased at the same time.
There are other fees grouped into your closing costs too like the appraisal, inspections, and survey, or even first payment for homeowners insurance (also called hazard or fire insurance).
Lenders and title companies you can shop for. A builder or lender preferred lenders or title company may be used for their ability to get the transaction clear and closed completing all of the background details required with the best result in their experience.
All of these add into the lump sum of all closing costs.
I hope this gives you a better picture of escrow and closing costs.