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Mortgage Settlement
Examples of Closing Costs and Fees

Mortgage Glossary

mortgage settlement closing costs fees examples samples

 

Because closing costs may vary from one area to another and from one lender to another, the following examples are an estimate only.

These examples are based on a $150,000 home with a 5% or a 20% down payment.

Excluding reserves for property taxes and down payment, settlement costs for the 5% down payment loan vary between $4,690 and $13,940.

Settlement costs for the 20% down payment loan vary between $4,285 and $12,060.

Your costs may be higher or lower than the samples below:

 

 

 

 

 

Item

Typical range
(percent except
as noted)

Estimate for $150,000 house
(in dollars except as noted)

5% down
payment

 20% down
payment

Down Payment

--

7,500

30,000

Mortgage amount

--

142,500

120,000

Items payable in connection with the loan ("800" series on HUD-1 form)

Application fee
(may include credit report fees)

--

75 to 300

75 to 300

Loan origination fee
(may also include underwriting fees, administrative fees, lender's attourney fees, notary fees, and so on)

1 to 1.5 of loan

1,452 to 2,137

1,200 to 1,800

Points

0 to 3

0 to 4,500

0 to 3,600

Appraisal fee

--

350 to 700

350 to 700

Lender's inspection fee

--

175 to 350

175 to 350

Assumption fee (if applicable)

$300 to $1,000

--

--

Broker fee (if applicable)

1

1

1

Items payable in advance ("900" series on HUD-1 form)

Prepaid interest

2

350

295

Homeowner's insurance
(hazard insurance)

$500 to $700

5253

5253

Flood determination
(flood insurance, if needed, is additional)

--

15 to 50

15 to 50

Reserves (escrow) deposited with lender ("1000" series on HUD-1 form)

Homeowners insurance

--

250 to 350

250 to 350

Private Mortgage Insurance (PMI)

--

125 to 250

--

Property taxes

4

--

--

Title charges ("1100" series on HUD-1 form)

Title search and lender's title insurance

--

700 to 900

700 to 900

Owner's title insurance

--

--

--

Government recording and tarnsfer fees ("1200" series on HUD-1 form)

Recording fees for deed, mortgage, city/county taxes, and state taxes

0 to 1.5 of loan

0 to 2,137

0 to 1,800

Additional charges ("1300" series on HUD-1 form)

Survey

--

150 to 300

150 to 300

Pest inspection

--

50 to 90

50 to 90

Settlement fees

--

500 to 1,000

500 to 1,000

Other amounts due from borrower ("100" series on HUD-1 form)

Personal property; assessments; prorated condominium fees; homeowners' association fees; prorated taxes; fuel, oil, and propane; and so forth

5

5

5
 

Note:
"--" = not applicable

1.

May be a dollar amount or a percentage. Return to table

2.

Depends on interest rate, the day of the month that settlement takes place, and the amount borrowed. The example assumes that there are 15 days left in the month and that the interest rate on the loan amount is 6%. Return to table

3.

These are the fees if using $3.50 per $1,000 of purchase price as an estimate. Return to table

4.

Varies greatly and depends on local tax rates. Return to table

5.

These items vary depending on your agreement with the seller. Return to table
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