RateZip Unbiased Local Rate Search
View and Compare interest rates, find local Banks and loans, mortgages, savings, auto finance and CD rates.
| Mortgage Rates | CD Rates | Savings Rates | Auto Loan Rates | |
 |
Closing Costs and Fees
Typical Mortgage Closing Costs and Third- Party Fees
The costs and fees related to closing a home loan is one of the most important questions. All lenders will provide you with a written estimate tailored to your scenario. Known as a Good Faith Estimate, lenders are required to issue this to borrowers once they have applied. Fees and costs vary greatly not simply by lender but also on a state and county level, so it is important that you ask for this information from the lenders you are shopping.
Note about no Closing Cost Mortgages:
Many Lenders offer "No Closing Cost" loans. This option may be right for you, but usually requires that you pay a slightly higher interest rate in lieu of paying closing costs. Check with your lender.
| *Appraisal | $250-$750 |
| *Credit Report | $15-$30 |
| Processing, Application, Underwriting Fees: | $910-$1100 |
| *Taxes and Insurance Escrow advance deposit: | 3-12 months of your required payments. |
| Transfer Taxes: | Applies based on State, County or Town law, varies widely. |
| Loan Discount Points/Origination Fee: | Pricing Option chosen by you. |
| *Title Company Closing Fee: | $150-$400 |
| *Buyer's Attorney Fee: | $0+ |
| *Lender's Attorney Fee: | $0+ |
| *Title Insurance (Lender's Coverage): | Varies based on loan amount, $300+ |
| *Homeowners Insurance: | $300+ |
| *Survey Fee: | $0-$400 |
| *Home Inspection: | $0-$450 |
| Down Payment: | Widely varies |
| *Flood Insurance: | $20 |
| *Recording Fees: | Widely varies by county, usually between $50-$150 |
| *Courier Fees: | $0-$40 |
| Per Diem Interest: | Varies based on loan amount, interest rate, and day of month that you close your loan. |
* Estimated Third-Party Fees.
