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The Closing Process |
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Contract to Closing
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The HUD
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Prorations
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Why Title
Insurance |
Title
Commitment |
Seller's Closing
Cost |
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Buyer's Estimated Closing Costs
(Click Here to Print PDF)
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Charges
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Conventional
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VA
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FHA
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Assumption
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Cash
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Appraisal Fee
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Per Lender
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Per Lender |
Per Lender |
Per Lender |
Per Lender |
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Assumption
Fee
|
N/A |
N/A |
N/A |
Up to 1% of Loan |
N/A |
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Attorney's Fee |
175-225
|
150-175
*See Below
|
175-200
|
150
|
75
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Credit Report
|
Per Lender
|
Per Lender |
Per Lender |
Per Lender |
Per Lender |
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Discount Points
|
Per Lender
|
Per Lender |
Per Lender |
Per Contract |
Per Contract |
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Escrow Fee
|
250
|
*See Below
|
250
|
250
|
250
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Homeowner's Assoc. Fee
|
Per Contract |
Per Contract |
Per Contract |
Per Contract |
Per Contract |
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Lender's Inspection
|
N/A
|
Per Lender |
Per Lender |
N/A
|
N/A
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Hazard Insurance
|
12 Months
|
12 Months
|
12 Months
|
12 Months
|
12 Months
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Lender Required Escrows
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Per Lender
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Per Lender
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Per Lender
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Per Lender
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N/A
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Mortgagee's Title Policy
|
(T19) 175+Endorsement |
(T19)
175+Endorsement |
(T19)
175+Endorsement |
N/A
|
N/A
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Origination Fee
|
As Required
by Lender
|
As Required
by Lender
|
As Required
by Lender
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N/A
|
N/A
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Recording Fee
|
100-125
|
100-125
|
100-125
|
68-90
|
28-40
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Overnight Delivery/
Messenger |
40
|
40
*See Below
|
40
|
40 |
N/A
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Survey
|
400-500
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400-500
|
400-500
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If Requested
|
If Requested
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Tax Service Fee
|
Per Lender
|
*See Below
|
*See Below
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N/A
|
N/A
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Termite Inspection Fee
|
125
|
*See Below
|
125
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If Requested
|
If Requested
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Underwriting Fee
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Per Lender
|
*See Below
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Per Lender
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N/A
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N/A
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VA Funding Fee
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N/A
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1-2% Loan
|
N/A
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N/A
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N/A
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Flood Certificate
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Actual Cost
|
Actual Cost
|
Actual Cost |
N/A
|
N/A
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Buyer's Inspections
|
Varies Per
Property
|
Varies Per
Property
|
Varies Per
Property |
Varies Per
Property
|
Varies Per
Property |
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Processing
|
As Required
by Lender
|
As Required
by Lender |
As Required
by Lender |
As Required
by Lender |
N/A |
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*A veteran may not pay attorney fees, escrow
fees, pest inspection fee, processing or underwriting fee, courier fee, or
tax service fee if the veteran is paying a 1% origination fee. These
estimates are subject to change. Please contact your lender for
actual charges. |
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Prepaid / Escrow Items |
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Monthly HOA credit to EOM
|
Per HOA
|
Per HOA
|
Per HOA
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Per HOA
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Per HOA
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Prepaid Interest through EOM |
Per Note Terms
|
Per Note Terms
|
Per Note Terms
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0
|
0
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First Year Hazard Insurance
|
Per
Premium
|
Per
Premium
|
Per
Premium
|
Per
Premium
|
Per
Premium
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MI Reserve of 3 Months |
Per Lender
|
See (2) Below
|
Per Lender
|
0
|
0
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Insurance Reserve of 3 Months
|
Per
Premium
|
Per
Premium
|
Per
Premium
|
Per
Premium
|
0
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Property
Tax Reserve of 3 Months
|
Per
Assessment
|
Per
Assessment
|
Per
Assessment
|
Per
Assessment
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0
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DOWN PAYMENT
|
Per Contract
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Per Contract
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Per Contract
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Per Contract
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Per Contract
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(1) FHA Note: MIP
can be financed into the loan!
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(2) Actual Formula
is 1/2 percent of the loan amount per year, divided by
12 (mos.), times 3.
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The above charges
are "estimates" only and are subject to change without notice!
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