By Relocation.com Staff
Lenders Point, Loan origination or loan service fees - can be up to 3% of the loan.
- Loan application fee
- Lenders credit report
- Lenders processing fees
- Lenders documentation preparation fees
- Lenders appraisal fees
- Prepaid interest on loan - prepaid per day until the end of the month in which the closing occurs
- Lenders insurance escrow - can be up to 20% of the cost of a one year homeowner's insurance policy
- Lenders tax escrow - Depending on the time of year you close this can be up to 50% of the yearly property taxes
- Lenders tax escrow service fee- fees to set up the tax escrow
- Premium mortgage insurance (PMI) - applicable if the down payment does not exceed 20% of the sales price
- Title insurance cost for lenders policy - depending on what part of the country you live a portion or the full amount may be paid by the seller
- Special endorsements to the title - Depending on the property you pick the lender may require that the buyer pay special endorsements such as an environmental lien endorsements or location endorsements to name a few
- House inspection fees -any that remain unpaid
- Title/escrow company closing fee
- Recording fees, for the deed or the mortgage
- Local city, town or village property transfer tax, county transfer tax and state transfer tax -- these charges will vary form city to city and state to state
- Flood cert fee - fee to determine if the home you pick is in a flood plain
- Buyer attorney's fee
- Association transfer fee
- Condo move in fees
- Co-op apartment fees -- fees that may be required to transfer the shares of stock in the property to the buyer
- Any credit checks by the condo or co-op board