Lender requests local, approved appraiser to give opinion of property value. Usually paid at time of loan application.
|$400 - $600|
Lender orders your credit history from credit reporting agency. Usually paid at time of loan application.
|$55 - $75|
Loan Origination Fee
Lender's fee for processing loan. Paid at closing.
|usually 1% of loan amount|
s (Optional) One-time charge used to discount the interest rate on a loan. Paid at closing.
|1% of loanamount = 1 point|
| Attorney Fee
Fee charged by closing attorney for handling the closing, title search, arranging for title insurance, arranging for survey, etc.
|$675 (cash sale) to $975|
A one-time premium paid at closing to protect buyer against title defects not found in public records. Required by lender. Covered amount usually equals sales price.
|$2.45 per $1000 of coverage|
Identifies lot lines and exact location of house and any other improvements. Required by lender. Closing attorney schedules. Paid at closing.
|$500 - $750|
Fees charged at County Register of Deeds Office to record deed, deed of trust and other important documents. Paid at closing.
|$50 - $100|
County/City taxes on real estate are pro-rated between buyer and seller. Seller is responsible for his/her personal property taxes for the year. Paid at closing.
|Tax Value x Tax Rate = Property Taxes|
Interest collected on the loan from date of closing to the end of month. Paid at closing.
|Will not exceed total monthly payment.|
Homeowners Insurance Policy to cover at least the mortgage amount. First year's premium paid on or before of coverage and closing.
|Varies depending on amount of property|
| Escrow Deposits
Funds placed in escrow accounts by lender to pay future. Paid at closing. Amounts determined by lender.
|Minimum 2 taxes/insurance in the months hazard and mortgage insurance. Taxes are determined by time of year.|
| Mortgage Insurance
Required on certain loans - usually high loan to value situations. Can be paid in full at closing or amortized with loan.
|Varies depending on loan type and amount.|
Fee charged by inspector to do home inspection. Paid for at time of inspection.
|$400 - $900 (depends on size and age of house)|
Fees charged by county health department or private companies to inspect wells or septic tanks. Paid at time of inspection.
|$145 (well/water only) - $500|
| Termite Inspection
Fees charged by local pest inspectors. Paid at closing
|$85 - $95|
| Radon Testing
Paid at time of inspection.