Estimated Closing Cost

 

Due to different loan amount each loan has, the closing cost can vary. The following estimated closing cost is based on listed assumption:

 

Example:

 

Property appraised value       $300,000

Loan Amount                           $200,000

Total Points                              0

 

Loan Fees

Total Points                                          $0

Appraisal Fee                                      $300

Credit Report Fee                               $20

Underwriting Fee                                 $800

Broker Fee                                           $300

Processing Fee                                   $400

Total Loan Fees                                $1,820

 

Title & Escrow Fees

Escrow Fee                                          $500

Title Insurance                                      $620

Notary Fee                                           $100

Recording Fee                                     $80

Wire Transfer Fee                               $50

Total Title & Escrow Fees              $1,350

 

Total Estimated Settlement Charge = $1,820 + $1,350 = $3,170

 

 

Note:  Above fees does not include other payments including recurring closing costs such as 30 days interest pro-rated between old and new loans, homeowner's association fee, hazard homeowner's insurance, property taxes if due, tax and insurance impounds if desired or required by lender.