$350 (Slightly higher if you are buying a 2-4 unit property)
CLOSING COSTS
Origination Fee
1% -OR- 1/2% for Internet Clients
Doc Prep Fee
$40
Flood Certification
$25
Termite Inspection
$55
Title and Escrow Fees
Consult your Title/Escrow Company
PER DIEM INTEREST:
As a result of there being no mortgage payment due the first month following your closing; at the closing you must pay simple interest covering the period from the day of the closing through the end of the month. These are included in your Total Cash to close the purchase and can be paid by you OR the Seller.
PROPERTY TAX & HOMEOWNERS INSURANCE ESCROWS
A calculation will be done at the closing to determine the amount of money that will need to be initially deposited to your escrow account. The actual amount will depend on the dollar amount and timing of the first tax payment coming due and the annual premium for your Home Owners Insurance. The bank will need to make certain that there will be sufficient funds on account to make these payments.
$300 (higher for 2-4 family properties & those valued over $500,000)
CLOSING COSTS
UNDERWRITING FEE
$350
Doc Prep Fee
$175
TAX SERVICE CHARGE
$80
Wire Transfer Fee
$50
FLOOD CERT
$25
Origination Fee
1% of the loan amount -OR- .5% For Internet Customers.
PER DIEM INTEREST:
As a result of there being no mortgage payment due the first month following your closing; at the closing you must pay simple interest covering the period from the day of the closing through the end of the month.
PROPERTY TAX & HOMEOWNERS INSURANCE ESCROWS
A calculation will be done at the closing to determine the amount of money that will need to be initially deposited to your escrow account. The actual amount will depend on the dollar amount and timing of the first tax payment coming due and the annual premium for your Home Owners Insurance. The bank will need to make certain that there will be sufficient funds on account to make these payments.
