What are the closing costs of a mortgage?
Every lender will be different in both the amount and description of the fees associated with originating a mortgage. Closing costs or the fees include but are not limited to: 1. Closing, settlement and/or attorney fees. 2. Underwriting or administrative fees. 2. Pre-paid items, such as property taxes, mortgage interest in advance, homeowners insurance and private mortgage insurance, if applicable. 3. Loan origination fees to the originator. 4. Appraisal fees to the appraiser 5. Credit report fee to the credit agency. 6. Messenger/runner fees. 7. Title recording fees. 8. Survey fee if needed by the title company or lender. 9. Title insurance for the lender. 10. Escrow contributions for real estate taxes and homeowners insurance if applicable. 11.
