HomeBuyers

Buyers Closing Costs

  1. Bank Attorney Fee: For title search, drawing papers, et cetera - $650 - $1,000

  2. Recording: Recording deed - $125; recording mortgage - $175.

  3. Certificate of Liens/Recording: Fee for Certificate - $25 - $65; recording of certificate - $65.

  4. Survey and Plot Plan: Fees will vary.

  5. Bank Charge: Security Committee, Credit Report, et cetera - $300 - $500.

  6. Title Insurance: $2.50 per $1,000 based on mortgage amount. (Does not include owner’s policy).

  7. Tax Escrow Account: Usually 2-3 months taxes.

  8. VA Loan: 1% for Funding Fee.

  9. FHA Loan: A one time, up-front mortgage insurance payment (MIP) - .038% of mortgage.

  10. Interest of Mortgage: Some banks charge interest in advance to the first of the following month, and payments are due on the first of each month.

  11. Points: If applicable.

  12. Private Mortgage Insurance (PMI): If applicable.

  13. Hazard Insurance: Some banks require one year prepaid insurance policy with receipted bill.