Closing Costs

Legal Fees and Title Costs

  • Attorney Fee – $1,000 to 1,500
  • Survey (Condo $150 to $250) – $450 to $800
  • Recording Fees with Mortgage & Deed – $200 to $300
  • Title Insurance Premium – (ontain from lender or attorney)

Mortgage Costs

  • Application Fee (Includes Credit Report) – $300 to $600
  • Appraisal – $400 to $600
  • Miscellaneous Mortgage Costs (Varies, ask your lender) – $100 to $600
  • PMI (Private Mortgage Insurance) – (obtain from lender)
  • Points – (obtain from lender)

(Fee paid to lender to “buy-down” interest rate on mortgage)
(One point = 1% of mortgage, i.e. – 1 point ona $500,000 mortgage equals $5,000)

Inspection Costs

  • Home Inspection – $300 to $650
  • Radon Inspection/Wood Destroying Insect – $120 to $300
  • Septic Inspection (if applicable) – $750 to $1,000
  • Oil Tank Inspection (if applicable) – $395 to $500
  • Other Inspections – (if applicable)
  • Asbestos, Chimney and Mold – (costs vary)

Additional Fees

  • Homeowner’s Insurance (1 year prepaid) – Obtain from Insurance Company
  • Two Months Escrow Homeowner’s Insurance
  • Escrow for property taxes up to 3 months