CLOSING COST BREAKDOWN

Here are the typical closing costs involved in getting a loan and a quick explanation of each cost:

• Underwriting/Administration Fee the fee charged by the
  lender to underwrite the loan.
• Appraisal fee – lenders require a third party valuation of the
  property by a licensed appraiser.
• Credit report fee – the fee charged by credit reporting
  companies.
•  Escrow fee – the fee charged by the escrow company to handle
  the paperwork to process the transaction.
• Title insurance – insures against loss due to liens,
  encumbrances, or defects in the title to the property.
• Recording fee – the fee charged by the governing body to
  record the deed.
• Origination fee – the fee charged by the lender to originate the
  loan.
• Discount fee – the fee charged by the lender to obtain a lower
  rate.

If you are applying for a loan and have questions on any of these fees, give us a call and we’ll be happy to go over them with you. We offer a variety product services, ask us how we can assist you today. We work for you, not the lender.