BUYER EXPENSES
- Doc stamps on mortgage $35 per $100 based on mortgage amount
- Intangible tax on mortgage 0.002 x mortgage amount
- Simultaneous issue mortgage (lender) title insurance policy ($25)
- Recording fees for deed (approx. $10) and mortgage (approx. $150) Endorsements to lender’s policy (as applicable)
- Homeowner’s Association dues and transfer fee (if applicable)
- Condominium approval fee and dues (if applicable)
- Survey of subject property ($250-$350)
- Termite inspection (approx. $35-$75)
- First year homeowner’s insurance and Flood (if required) premiums
- Escrow account for lender to pay property taxes (4-10 months of yearly gross amt) and hazard (homeowner’s) insurance (2-3 months) and PMI (mortgage insurance) (if applicable)*
- Prepaid interest (from day of closing to end of current month)*
- FHA upfront MIP-FHA Only*
- VA Funding fee-VA Only*
- Appraisal fee (approx. $300-$350)
- Credit Report (approx. $50)*
- Tax service fee (approx. $55-$100)*
- Underwriting fee (approx. $100-$250)*
- Document preparation fee (approx. $10-0$250)*
- Assignment of Mortgage (if applicable-approx. $15-$25)*
- Courier fee (approx. $30-$90)*
- Flood certification fee ($20-$50)*
Owner’s title insurance policy and closing fees**
*NOTE: If buyer obtains a VA or FHA Mortgage the Department of HUD and VA require the seller to pay certain costs. Please refer to your “Good Faith Estimate” from your lender.