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:

All Inclusive Escrow Fee, $2.00/$1,000 of sales price plus $550.00

Notary Fees paid to Notary $150.00 max

Minimum Escrow fee $795

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)

*As of January 1, 2018, Recording Fees may be subject to a $75 fee per document (Senate Bill2)

Other Fees/Charges

Homeowners Association Fees, if any

Prorations/Impounds

Fire Insurance (get quote from insurance agent)

Flood Insurance (ordered only if required by lender)

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)


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:

All Inclusive Escrow Fee $2.00/$1,000 plus $550.00

Notary Fees paid to Notary $150.00 max

Minimum Escrow Fee $795

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)


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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