|
ITEM
|
AMOUNT
|
EXPLANATION
|
| |
|
|
| Processing
Fee: |
$395 |
Typically
this is the only fee we charge.* This is all inclusive, and
we do not charge an application fee, a credit report fee, or
a rate lock fee. Paid at closing. *Some sub-prime borrowers
may be subject to being charged points.*
|
| Appraisal: |
$100 -
$600 |
Amount
can vary based upon the type of property, and the lenders
requirements. Average cost for a single family property is
$225. Typically paid to the appraiser at the time of
inspection.
|
| Title
Examination: |
$150 |
Required
by the lender and is paid to a title examiner at the time of
closing. This is done to confirm ownership of the property
and to verify that there are no other liens on the property.
|
| Attorney's
Fees: |
$550 |
Charged
by the attorney to complete the paperwork and perform the
closing.
|
| Title
Insurance: |
$2.50
per
$1000 borrowed |
Required
by the lender to protect them in the event of a title
defect. Cost is $2.50 per $1000 borrowed. $250 per $100k.
|
| Survey: |
$125 |
Not
always required. Some lenders allow for a survey by
affidavit which costs less. Not required on condominiums.
Paid at closing.
|
| Recording
Fees: |
$125 |
Fees
charged by the county to discharge your current mortgage and
record the new one. Also must record the deed on a purchase.
Actual amount will vary. Paid at closing.
|
Flood
Certification: |
$15 |
Required
by the lender to determine if the property is located in a
flood plain. Paid at closing.
|
| Funding
Fee: |
$375
- $600
|
Amount
varies based on the lender. This is a fee which the bank
charges to process and fund the loan. Paid at closing.
|
| Courier
Fees: |
$25 |
Charged
by the attorney to cover the cost of overnight delivery for
loan documents.
|
