Costs are constantly changing and can vary by loan program as well as to your specific situation in getting a home loan. I offer a program where you, as the borrower, would not pay any closing costs. Please call or email to ask about this program. A detailed list of closing costs can be given upon learning about your specific situation. I will provide an estimate of closing costs by sending you an estimated fee sheet. In addition you will receive a loan estimate of the fees and costs and total amount due at closing upon making a full application.
Fees that are paid once are called non-recurring. These fees are one-time charges for such items as:
- Credit Report
- Appraisal
- Underwriting
- Flood Cert
- Attorney fees
- Title Policies
- Escrow or closing
- Notary
- Courier / Delivery
- Attorney fees
- Endorsements
- Recording
- State, County or City Transfer Taxes
- Home Protection Plans
- Home Inspection
Recurring fees are those charges that you will pay cyclically. They include such fees as:
- Fire Insurance Premium
- Flood Insurance (if required in your area)
- Property Taxes
- Mutual or Private Mortgage Insurance Premiums
The time of the year that you close will dictate how many pro-rata months of premiums the lender will collect to hold against future payments of taxes and insurance. Not every loan has an impound or escrow account, but typically home loans totaling more than 80% of your purchase price will require an impound / escrow account.
Always check with me before you negotiate an offer that involves a seller credit for closing fees to provide the most accurate information possible.
Platte River Mortgage and Investments, Inc. has the volume necessary to work with the top wholesale mortgage investors in the country. This enables me to provide the most competitive rates while keeping overhead low — I pass these savings to my clients in the form of reduced closing costs and very low interest rates.
Call experienced Denver Mortgage Lender Robert Sturms at 303-721-1001 with any questions you may have, or to get started on getting your home loan.
