Loan Fees (See Mortgage Terms Now in Plain English)
- Application fee- $450+ *
- Origination fee - 0%-1.5% of amount borrowed escrows (taxes, insurance) - 2-8 mos. taxes + $500-$1000 insurance
- Misc. fees – varies – confirm with lender
- Down payment – varies. . . .do not expect 100% financing
- Loan charges vary greatly. Ask your lender for a “Truth in Lending Statement” which will specify your loan charges.
- Home- $350-$750* (exclusive of outside consultants)
- Pest- $55-$85*
- Misc. Inspections (e.g. water, septic, structural) as needed *
Due Diligence Fee
- Fees- $750-$850
- Hazard- $300-$1500 (annual)
- Title – (one time)
- $2.00/1,000 up to $100k
- $1.50/$1000 – $100K up to $500K
- $1.00/$1,000 – $500K up to $2M
- Flood- $300-$600 (annual)
These costs are estimates only. They are based on recent charges by area attorneys, lenders and inspectors and will be subject to change. Not all of the above charges will necessarily be relevant to your buying experience.
*These fees may be due at the time of service. All others are due at closing.