Buyer Expenses

Buyers ExpensesTypical Buyer’s Expenses

  • Mortgage Points and/or Origination Fee "Out of Pocket" Expenses:
  • Mortgage Points
  • Appraisal
  • Credit Report
  • Title Insurance:
    • Lender’s Policy
    • Owner’s Policy
    • Endorsements
  • Title Examination
  • Title Update (from delivery to closing)
  • Document Preparation
  • Courier fees
  • Mortgagees attorneys fee
  • Recording fees: $6.00 first page, $4.50 each additional page
  • Documentary stamps on the note: $.35 per $100.00of note amount
  • Intangible tax on the mortgage $.20 per $100.00 of mortgage amount
  • Survey
  • BAC (Brokers Administrative Commission, $175.00)
  • Prepaids:
    • 2 – 4 months property taxes
    • 14 months hazard insurance
    • 14 months flood insurance (if required)
    • 14 months windstorm insurance (if required)
    • P.M.I Premium (If loan is more than 80% loan to value)
    • Prepaid Interest