Buyers Closing Costs - Conventional Loan

The following is an example of fees/costs that a Buyer can expect to pay when purchasing a home with Conventional Financing:

Escrow Fees:
Base Escrow Fee ($1.95/$1,000 of sales price plus $195.00)
Loan Tie-in Fee ($300.00) + $100 each additional loan
Messenger Fee for Loan Documents ($Actual Fee + $5.00 handling fee)
Notary Fees paid to Notary ($100.00 max)
Archive Fee ($30.00)
Misc. Fees - Buffer $500 (refunded if not used)

Title Fees:
Lenders Title Policy (see title chart/ALTA policy - charges vary from company to company)
Sub Escrow Fee ($65.00)
Endorsement Fee ($150.00 - $200.00)
Recording Fees:
   Grant Deed ($25.00)
   Deed of Trust ($85.00)
   Misc. Recording Fees (Quitclaim deed, etc. $20.00)
Title Company Wire Fee ($35.00)

Lender/Mortgage Broker Fees*
Loan Origination Fee (1% of loan amt. or ask lender for quote)
Loan Discount (1.5% of loan amt. or ask lender for quote)
Appraisal Fee ($350.00 - $800.00)
Credit Report ($50 - $60.00 per person on new loan)
Processing Fee ($250.00 - $700.00)
Underwriting Fee ($350.00-$700.00)
Lender's Inspection Fee ($75.00-$150.00)
Document Preparation Fee ($250.00 - $500.00)
Tax Service ($75.00)
Flood Certification ($25.00 - $75.00)
Wire Fee to Lender ($25.00 - $100.00)
Prepaid Interest (Int. rate x loan amt. ) 12 ) 30 = per diem x # of days used Max. 30 days)

*(contact your lender for an exact quote of lender charges)

Other Fees/Charges
Homeowners Association Fees, if any                                                                          Prorations / Impounds                                                                                                          Fire Insurance (get quote from ins. agent)                                                                            Flood Insurance (ordered only if required by lender)


Note: The above information is only an approximate estimate of fees that a buyer may be required to pay and cannot be guaranteed. Fees will vary depending on the type of transaction or loan a Buyer is entering into. This information is designed to assist the Buyer in estimating costs. For a more precise estimate of lender charges contact your lender. Be aware that lender, title company and escrow charges vary from company to company.


Sellers Closing Costs - Conventional Loan

The following is an example of fees/costs that a Seller can expect to pay when selling his home to a Buyer who is applying for Conventional Financing:

Seller's Loan Payoff:
Principal (remaining balance due on existing loan)
Interest (1 month payment)
Payoff Statement/Demand Fee ($50.00 per loan)
Reconveyance Fee ($50.00 per loan)
Prepayment penalty, if any (see existing Note)
Recording fee for release ($25)

Title Company Fees:
Policy of Title Insurance (see title company chart/Owners policy)
Payoff Fee to Title Company (sub escrow fee) ($65.00)
Recording Fees ($25.00 - $40.00)
Documentary Transfer Tax ($1.10/$1,000; Los Angeles City properties add $4.50/$1000)

Escrow Fees:
Base Escrow Fee ($1.95/$1,000 plus $195.00)
Document Preparation Fee ($75.00)
Demand Fee ($50.00) each demand
HOA Statement ($50.00)
Archive Fee ($30.00)

Notary Fees paid to Notary ($60.00 max)

Termite Company Fees:
Termite inspection only ($65.00 plus repairs)
Termite completion/repairs

Homeowners Association, if any:
Homeowners Dues (monthly HOA amount)
Transfer Fee ($150.00 - $550.00)
HOA Doc Fee ($100.00 - $300.00)

Other Charges:
Home Warranty ($350.00 plus add'l features)
Property Hazard Disclosure ($49.00 - $120.00)
Withholding for Franchise Tax Board 3.33% of sales price (Investment Property)
Prorations

Real Estate Broker Fees:
Service Fee/Commission (6%)
Transaction Coordinator Fee ($350.00 - $500.00)

Misc. Fees/Costs ($500.00) Buffer - refunded if not used

Note: The above information is only an approximate estimate of fees that a Seller may be required to pay and cannot be guaranteed. Fees will vary depending on the type of transaction the Seller enters into; FHA, VA, Conventional etc. This information is designed to assist the Seller in estimating costs. Be aware that lender, title company and escrow charges vary from company to company.

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