Estimated Mortgage Closing Costs
Based on an Average Purchase Price of $225,000
The following lists estimated costs required for the mortgage
program. It is important to compare costs when choosing the best loan program
for you.
We have included an identifier called the HUD Line Number for
you. The HUD Line Number refers to the specific line on the HUD Settlement
Statement where you will see the fees noted. All lenders are required to provide
you with a HUD Settlement Statement and the HUD Line Numbers help you compare
costs from one lender to another.
For more information about closing
fees and HUD Line Numbers, review the booklet Buying Your Home: Settlement Costs and
Information prepared by the Department of Housing and Urban
Development.
| HUD Line | Description |
Amount |
|
803 |
Appraisal Fee | $400 |
|
804 |
Credit Report | $20 |
|
808 |
Tax Service Fee | $70 |
|
816 |
Processing Fee | $495 |
|
834 |
Flood Certification | $9 |
|
1101 |
Settlement or Closing Fee | $250 |
|
1103 |
Title Examination | $300 |
|
1104 |
Title Insurance Binder | $50 |
|
1108 |
Lenders Title Insurance | $4 per $1,000 |
|
1111 |
EPA Endorsement | $75 |
|
1112 |
Survey Endorsement | $50 |
|
1119 |
Closing Protection Letter | $35 |
|
1201 |
Recording Fee | $160 |
|
1205 |
Assignment Fee | $32 |
|
1301 |
Survey | $150 |
|
1304 |
Shipping & Handling | $15 |
Please Note: Deposits for items that must be paid in advance, such as any interest due at closing, deposits for payment of future real estate taxes or homeowner's insurance are NOT included in the fees above.