BUYER'S CLOSING COSTS

1. Bank attorneys’ fees for title search, drawing papers, etc. (usually around $750 to $1000).
2. Recording deed and mortgage ($55); assignment of mortgage ($10).
3. Fee for Certificate of Liens (usually $25 to $40).
4. Survey and plot plan ($125).
5. Bank charge for security committee, credit report, etc. (usually between $150 to $250).
6. Title insurance ($1.25 per $1000 based upon mortgage amount).
7. Tax escrow amount (usually three (3) months).
8. If VA, 1% for funding fee.
9. If FHA, a one-time, up-front mortgage insurance payment (MIP--.038% of mortgage).
10. Interest on mortgage; some banks charge interest in advance to the first of the following month
and payments are due on the first of each month.
11. Points, if applicable.
12. Private Mortgage Insurance (PMI), if applicable (.005% of mortgage amount).
13. Hazard Insurance; some banks require a one-year, prepaid insurance policy with receipted
bill.