Estimated Settlement Costs
As a broker we work with many lenders. Costs are different from lender to lender. Below is a conservative view of settlement costs you should expect from any lender you may be considering. |
Total Points
Varies from 0.000-4.000 depending on rate and program you select. To reduce your closing costs select a rate with fewer points. | | | HUD# | Total Points | | 801/802 | Loan points @ 0.000% | $0 | | | Total Discount Points | $0 |
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Loan Fees
These loan fees will vary from lender to lender. Mortgages First helps you by choosing the lender with the best combination of rate and loan fees from its national lender base of 500 lenders. These fees typically range from $521.00 to $883.00 depending on investor.
| | | HUD# |
Lender Loan Fees | | | 809 | Lender Administration fee | $695 | | | 810 | Retainer fee (credited back
@closing) | $99 | | | 812 | Flood Certification fee | $12 | |
| 818 | Tax Service Fee | $60 | |
| 819 | Courier/mailing fees (at cost) | TBD | |
| 820 | Wire transfer fee | $17 | |
| 821 | Documentation preparation | $0 | |
| Total Loan Fees | $883 |
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Third Party Fees
Mortgages First helps you by negotiating the lowest rates possible for these services. These fees are not paid to Mortgages First t, they are paid to the service provider.
Please note that you must pay for the appraisal up-front to the appraisal company. | | | HUD# | Third Party Fees | | 803 | Appraisal | $400 | | | 804 | Credit report | $0 | | | 808 | Tax service | $0 | | | 822 | Flood certification | $0 | | | Total Third Party Fees | $400 |
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| Title Company or Attorney Fees
State mandated title fees are not included but are required by all states. They vary state to state.
Mortgages First continuously seeks out service providers who can provide the best service and rates. These fees will be determined by the title company or closing attorney you use. Your Good Faith Estimate will provide an estimate based on your state. | | | HUD# | Title Company or Attorney Fees | | 1101 | Settlement or closing fee | TBD | | | 1102 | Title search fee | TBD | | | 1103 | Title examination fee | TBD | | | 1107 | Attorney Fee | TBD | | | 1109 | Title Insurance - lender's coverage | TBD | | | 1111 | Delivery/Courier Service | TBD | | | 1112 | Wiring | TBD | | | 1113 | Environmental Endorsement Fee (ALTA 8.1) | TBD | | | Total Title Company or Attorney Fees | TBD |
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Government Fees
These fees are set by government authorities in your state and will apply for any loan chosen. | | | HUD# | Government Fees | | 1201 | Recording fees | TBD | | | 1202 | County tax stamps | TBD | | | 1203 | State tax stamps | TBD | | | 1204 | City tax stamps | TBD | | | 1205 | Intangible taxes | TBD | | | Total Government Fees | TBD |
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| Estimated Non-recurring Closing Costs: TBD |
| Estimated Recurring Costs |
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Lender Prepaid Items
In addition to closing costs, the lender requires that you prepay a few items at closing. These are not additional fees and include the initial payment(s) for interest on your loan, private mortgage insurance (if required) and homeowner's insurance.
If you already have homeowner's insurance, you can ignore the premium listed, and replace it with the actual premium you received from your insurer.
real estate, hud, closing costs, mortgage calculator, mortgage rates, debt consolidation | | | HUD# | Lender Prepaid Items | | 901 | Interest (est.): 15 days @ $00.00 per day | $0 | | | 902 | Mortgage Insurance (est.): 2 months @ $00.00 per month | $0 | | | 903 | Homeowner's insurance premium (est.): 12 months @ $0.00 per month | $0 | | | Total Lender Prepaid Items | $0 |
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Impound or Escrow Deposits
These amounts are the initial deposit into your impound account, which will be used to pay your bills as they come due. If your loan amount divided by property value is less than 90%, you may have the option to waive these impounds. Waiving impounds may result in an increase in points.
real estate, hud, clos | |
| HUD# | Impound or Escrow Deposits | | 1001 | Hazard insurance impound (est.): 2 months @ $0.00 per month | $0 | | | 1002 | Mortgage insurance impound (est.): 1 month @ $65.00 per month | $0 | | | 1004 | Property tax impound | TBD | | | Total Impound or Escrow Deposits | $0 |
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