Home : Privacy Policy : Contact Us : Site Security

Closing costs are just as important as rate and service in determining the best mortgage company for you.  That is why we not only put our costs here for you, but stand by them through the transaction as well.   According to the federal government, and most states, closing costs are any costs associated with making a mortgage that would NOT be required if you were paying cash for a home.  That rather vague definition leaves a lot of room for creative bookkeeping.  Many mortgage companies do just that: they conceal how much it is really going to cost you to close your mortgage.  Some companies lump together a lot of closing costs under legal fees, and then subtract them from their closing costs because they are legal fees, not closing costs.   These are our ESTIMATED Closing Costs. It is impossible for any company to concisely estimate the closing costs for all types of loans and all cost options in one table format.   The chart below itemizes the closing costs for the AVERAGE transaction.  While individual costs may vary according to the circumstances that relate to your transaction, we attempt to be straightforward and accurate. The total of the closing costs is guaranteed to be within $100 of the amount quoted below unless there are special circumstances that affect your transaction.   If such circumstances develop, we will inform you about the additional charges and the reasons for them.  Use this chart when comparing mortgage costs  from other companies.  If you see an item on our closing cost list that isn't on theirs, ask why.  Chances are you are paying for it elsewhere. EFFECTIVE SINCE 9/1/2009 PLEASE NOTE: We are no longer offering New Hampshire loans effective 9/1/09   Lender Loans Broker Loans   Refinance Purchase Refinance Purchase 800. Items Payable in Connection with the Loan 801. Loan Origination Fee varies, based on terms of rate lock, see lock confirmation 802. Loan Discount Fee varies, based on terms of rate lock, see lock confirmation 803. Appraisal Fee* $370 $370 $445 $445 * Appraisal fees are based on the average single family loan.  Additional costs may apply based on location, type of property and number of reports or return visits needed.  Multi-Family properties can are typically $680 for lender loans and $750 for Broker loans, regardless of purchase or refinance and regardless of occupancy type.  Properties on Cape Cod and the Islands can add from $150-$300. 804. Credit Report Fee (per report) $18.66 $18.66 $18.66 $18.66 810. Processing/Broker Fee $500 $500 $350 $350 811. Underwriting Fee** $535 $535 $875 $875 ** Underwriting Fees vary from Investor to Investor and Lender to Lender.  They include Investor Tax Service Fees, Underwriting Fees, Table Funding Fees, and MERS fees.  These fees listed are an average.  Depending on the program or the investor, especially between Jumbo and Conforming loans, you may see a variance of as much as $150 up or down from these fees. 815. Flood Certification Fee $20 $20 $12 $12   1100. Title Charges 1105. Settlement Doc Prep Fee $175  $175  $0  $0  1107. Settlement Attorney Fee $500 $500 $500 $500 1108. Lender's Title Insurance Fee*** Loan Amount x 0.0025 *ask us about a 40% discount Loan Amount x 0.0025   Loan Amount x 0.0025 *ask us about a 40% discount Loan Amount x 0.0025   *** All mortgage transactions require lender's title insurance.  Owner's title insurance is available at a rate of 0.365% times the Purchase/Appraised Value of the property, plus $175. This is an optional fee and not part of our disclosed closing costs. 1111. Obtain Municipal Lien Fee   $50   $50   1112. Title Examination Fee $175 $175 $175 $175   1200. Government Recording and Transfer Charges 1201. Recording Fees**** $275 $440 $275 $440 **** Recording Fees include the recording of the Mortgage and Assignment for purchases, as well as the Discharge for Refinances.  It also includes the recording of the Deed and, where applicable, the Municipal Lien Recording fees.  Regardless, you will only be charged the necessary recording fees that we are charged by the State. Deeds are required only on a purchase or when adding or removing a party from the existing deed. If required, Subordination fees may be charged. They are not included in this disclosure. Subordination fees include those fees charged by your current lender and the recording of your subordination with the State. Typical recording fees for subordinations are $75. Fees by your current lender vary from lender to lender. 1300. Additional Settlement Charges 1301. Survey/Plot Plan   $150  (not for condos)   $150  (not for condos)   TOTAL FIXED COSTS:      $2,568.66   $2,933.66   $2,650.66   $3,015.66   REPRESENTATIVE        FIXED COSTS:    (Based on non-discounted Lender's     Title Insurance for $200,000 loan with     0 points and a $300,000 purchase price)       $3,068.66   $3,433.66   $3,150.66   $3,515.66