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Closing
Costs Glossary |
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Buyers Closing Costs -Conventional Loan |
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The following is an example of fees / costs that a Buyer
can expect to pay when purchasing a home with Conventional
Financing : |
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Escrow Fees : |
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Base Escrow
Fee ($2.00/$1,000 of sales price plus $200.00)
Loan Tie-in
Fee ($200.00) + $50.00 each additional loan
Messenger Fee
for Loan Documents ($80.00)
Notary Fees
paid to Notary ($10.00 per signature, maximum $50.00)
Audit Fee ($20.00)
Miscellaneous Fees
- Buffer $350.00 (refunded if not used)
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Title Fees : |
| Lenders
Title Policy (see title chart / ALTA policy -
charges vary from company to company)
Sub
Escrow Fee ($65.00)
Endorsement
Fee ($150.00 - $200.00) |
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Recording Fees: |
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Grant
Deed ($25.00) |
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Deed
of Trust ($75.00) |
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Miscellaneous
Recording Fees (Quitclaim deed, etc. $20.00)
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| Title
Company Wire Fee ($35.00) |
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Lender / Mortgage Fees : |
| Loan
Origination Fee (1% of loan amt. or ask lender
for quote) Loan
Discount (1.5% of loan amt. or ask lender for
quote) Appraisal
Fee ($350.00 - $800.00)
Credit
Report ($50 - $60.00 per person on new loan)
Lender's
Inspection Fee ($75.00-$150.00)
Document
Preparation Fee ($250.00 - $500.00)
Tax
Service ($75.00)
Wire
Fee to Lender ($25.00 - $100.00)
Prepaid
Interest (Int. rate x loan amt. ) 12 ) 30
= per diem x # of days used Max.
30 days)
*(contact
your lender for an exact quote of lender
charges)
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Other Fees / Charges : |
| Homeowners
Association Fees, if any
Prorations
/ Impounds
Fire Insurance
(get quote from ins. agent)
Flood Insurance
(ordered only if required by lender)
Audit Fee ($20.00)
Miscellaneous Fees
- Buffer $350.00 (refunded if not used)
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Note
: The above information is only an approximate
estimate of fees that a buyer may be required
to pay and cannot be guaranteed. Fees will vary
depending on the type of transaction or loan a
Buyer is entering into. This information is designed
to assist the Buyer in estimating costs. For a
more precise estimate of lender charges contact
your lender. Be aware that lender, title company
and escrow charges vary from company to company.
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