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Mortgage Services

Costs To Close

While closing costs will vary by who you elect to use as your mortgage lender or mortgage broker, as a home buyer, you will never have any real estate agent fees associated with your purchase. These costs are born by the seller only.

The closing of your home purchase is managed by an Escrow agent, also known as a Title Company. They are a neutral third party that is hired to assure all parties involved in the transaction that everything will go smoothly and that your closing will be completed properly and on time. The title companies primary responsibilities are:

  • Prepare all loan documents for the buyer to sign
  • Hold all funding in an escrow account until closing is completed
  • Insure the transaction against defects in the lien, assuring you the buyer and your loan company that there are no liens outstanding on property after closing
  • Assure you and the lender of clear title to the property
  • Settlement of all outstanding liens on the property in question
  • Collect various signatures, issue documents and pay associated fees on behalf of both the seller and buyer to include:
    • Mortgage Documents
    • State, local and property tax fees
    • Real Estate Transaction Fees
    • Home Owner Insurance
    • Flood Insurance
    • Title Insurance
    • Home Owner Association Fees
    • Escrow Fees
    • Payments to Seller
    • Prepaid Interest, Etc.

There are a significant number of issues a title company must address prior to your closing ever taking place. As you can see from above, it take a neutral party to protect the interest of everyone involved in the real estate transaction. The typical fees associated with a closing are broad and vary according to again, the mortgage company you use in addition to the title company and community you are in buying in.

Typical fees you'll see on your settlement statement include:

Typical Home Buyer Fees
Typical Home Seller Fees


Mortgage Related Costs You Might See:

  • Points for Rate By Down
  • Mortgage Origination Fees
  • Home Appraisal Fee
  • Loan Processing Fee
  • Wire Transfer Costs
  • Underwriting Fee
  • Credit Report Fee
  • Application Fee
  • Tax Service Fee
  • Flood Certification
  • Funding Fee
  • Commitment Fee
  • Prepaid Mortgage Interest

Title Company/Real Estate Attorney Fees:

  • Real Estate Attorney Fee (Only if using a Attorney for closing)
  • Settlement Fee
  • Closing Fee
  • Title Search Fee
  • Title Inspection Fee
  • Warehousing Fee
  • Insurance Binder Fee
  • Title Policy Fee
  • Document Prep Fee
  • Notary Fee
  • Form 9, Alta 8.1 and Alta 5.1 Fees

Escrow's (these are typically required by the Mortgage Company):

  • Property Taxes
  • Home Owner Association Fees
  • Flood Insurance
  • Homeowner Insurance

Government Fees Associated With Your Closing:

  • Recording Fees (typically courthouse costs)
  • County/City Doc Stamp Tax
  • State Doc Stamp Tax

Misc. Fees Which You May See On You Closing Statement:

  • Home Inspection Fee
  • Termite Inspection Fee
  • Survey Fee
  • Home Warranty Fee
  • Septic Inspection Fee


Typical Seller Fees You Might See

  • Real Estate Commissions
  • Property Taxes up to closing date
  • HOA Fees up to the closing date
  • Outstanding Liens on the property
  • Seller Portion of Title Costs
  • Any Seller paid Buyer Fees negotiated within the contact which could cover any of the items listed in the Typical Home Buyer Fees

Please Note: Costs associated with closing a loan can change and vary. The costs listed here are by no means meant to reflect all costs which might be associated with your purchase. Those fees will be provided to you by the parties involved in your purchase transaction under federal RESPA guidelines. These items are listed for information and education purposes only. Please consult with a Licensed professional Real Estate Agent and Mortgage Originator for further information related to your transaction.


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