Fee Structure

Mortgage Fees

As a consumer, it is very important to compare costs between lenders before you make an application. While a mortgage interest rate is certainly important, you must be sure the lender will not charge excessive fees to secure a desired rate. The document which will allow this comparison is a Good Faith Estimate of Closing Costs. The Good Faith details interest rates, terms, and the cost of the transaction. You will always receive an Estimate from me before you make application and we urge you to insist on an Estimate from any lender you consider.

Fees or closing costs fall into several categories-

Lender fees which can vary by lender
Settlement attorney fees
Government fees and taxes

Lender Fees

Origination fees	A lender's fee to originate the loan	1% - 3%
Discount points	Prepaid interest to lower an interest rate	Varies by rate
Application fees	A fee to process the Application	Varies
Lock in fees	Guarantees a rate for a period of time	.25% - 1%
Underwriting/Doc prep	Fees to cover office costs	Varies
Flood Certification	Verify property is not in a flood plain	$18 - $40.00
Tax Service	Paid to process property tax payments	$60 - $95.00
Appraisal	Verify property value	$275-400
Credit Report	Fees Paid to verify your credit profile	$65

Settlement Attorney Fees

Attorney fees	Paid for document prep and closing services	$225-$400
Title Search	Cost to verify chain of title	$85- $200
Title insurance	Required by lender to insure the chain of title	$3.90/$1000 of value

Recording, Government Fees and Taxes

Recordation Fees	Fees charged to record a new deed	$50- $200
State Deed Stamps	The required state taxes	Varies by State
Note Stamps	The required county taxes	Varies by County
Intangible Stamps	The required county taxes	Varies by County

Please note that the above are for information purposes only. Some programs require additional fees.

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