Irving Steel

Closing Costs

  1. Home price: for example, $500,000 and then a percentage as a deposit
  2. Inspection: typically ranges from $400-$1200
  3. Appraisal $450-$600
  4. Attorney $600-$800
    1. Attorney helps to take care of:
      1. Title research: $200-$400
      2. Title insurance: there is an owner portion and loan part. It’s a percentage.
  5. Lenders fee:
    1. The mortgage broker might call it different things from application fee, originator fee, underwriter fee. This will be about $500.
    2. There is also a point– this is connected to the program that you choose and rate.
    3. Credit fee: $15-$20
    4. Flood insurance $40
  6. There are other fees to consider like interest, tax, and insurance.
  7. There is also the recording fee to ensure that you have legal possession of the property. This usually costs between $80-$400 depending on the length of the contracts.
  8. The seller fee is quite simple: just the agency fee, conveyance tax