| Estimated Closing Costs |
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| Estimated Closing Costs for New York |
 |
| Mortgage Related Fees |
1-4 Family & Condo |
Co-op |
| Usually Paid at Application |
|
|
| Application |
$350 |
$350 |
| Credit Report |
$9.80-$14.60 |
$9.80-$14.60 |
| Appraisal |
|
|
| $0-$499,999 |
$300 |
$500 |
| $500,000-$749,999 |
$400 |
$550 |
| $750,000-$999,999 |
$650 |
$800 |
| $1,000,000-$1,500,000 |
$750 |
$900 |
| Over $1,500,000 |
$1,000 |
|
| Usually Paid at Closing |
|
|
| Tax Related Service Fee |
$70 |
$70 |
| Underwriting/Commitment Fee |
$350 |
$350 |
| Processing Fee |
$330 |
$330 |
| Lender's Attorney |
$650-$750 |
$650-$750 |
| UCC Lien Search |
|
$250-$400 |
| Departmental Searches |
$350 |
|
| Title Insurance |
Depends on purchase price
and mortgage amount |
|
| Taxes |
See Chart |
See Chart |
| Recording Fee |
$150 |
$80 |
| Possible Prepaid Items (Not Fees) |
|
|
| Prepaid Interest: |
Per diem interest from closing to end of month |
Per diem interest from closing to end of month |
| Homeowner's Insurance (1-4 family houses only) |
|
|
| Escrowed Real Estate Taxes |
Usually 2-6 months |
|
| Other Possible Fees |
|
|
| Co-op/Condo Questionnaire Fee to Mgt. Co. |
$0-$350 |
$0-$350 |
| Board Application Fee |
|
$0-$300 |
| Recognition Agreement Fee to Co-op Board to Sign |
|
$0-$550 |
| County Recording Fees |
|
|
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These figures are for estimates only, actual costs may vary |
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| Estimated Closing Costs for Connecticut |
|
| Mortgage Related Fees |
1-4 Family & Condo |
| Usually Paid at Application |
|
| Application |
$350 |
| Processing Fee |
$330 |
| Credit Report Fee |
$9.80-$14.60 |
| Appraisal Fee |
$300
(varies depending on purchase price) |
| |
|
| Usually Paid at Closing |
|
| Bank Attorney Fee |
$650 |
| Title Insurance |
Depends on purchase price and mortgage amount |
| Departmentals |
$165 |
| Recording Fees |
$200 |
| Mansion Tax (if purchase price >$1,000,000 |
1% of purchase price |
| |
|
| Possible Prepaid Items (Not Fees) |
|
| Prepaid Interest: |
Per diem interest from closing to end of month |
| Hazard Insurance: |
2 months |
| Mortgage Insurance Premium Reserves: |
2 months |
| Tax and Assessment Reserves: |
6 months |
|
These figures are for estimates only, actual costs may vary |
| |
| Estimated Closing Costs for New Jersey |
|
| Mortgage Related Fees |
1-4 Family & Condo |
| Usually Paid at Application |
|
| Application |
$495 |
| Credit Report |
$9.80-$14.60 |
| Appraisal |
$350 |
| |
|
| Usually Paid at Closing |
|
| Closing or Escrow Fee |
$200 |
| Bank Attorney Fee |
$650 |
| Title Insurance |
Depends on purchase price and mortgage amount |
| Endorsements |
$243 |
| Miscellaneous Title Fees |
$300 |
| Recording Fees |
$350 |
| UCC Lien Search (co-ops only) |
$250-$400 |
| Mansion Tax (if purchase price is >$1,000,000 |
1% of purchase price |
| |
|
| Possible Prepaid Items (Not Fees) |
|
| Prepaid Interest: |
Per diem interest from closing to end of month |
| Hazard Insurance: |
2 months |
| School Tax: |
3 months |
|
These figures are for estimates only, actual costs may vary
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| Preferred Empire Mortgage Company |
| |
200 Broadhollow Road, Ste. 300
Melville, NY 11747
Toll Free: 1-888-750-7770
Phone: 631-547-5151
Fax: 631-547-5478 |
205 East 42nd Street, 6th Floor
New York, NY 10017
Toll Free: 1-866-666-PEMC
Phone: 212-692-8402
Fax: 212-922-8711 |
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|
info@pemconline.com
Registered Mortgage Broker/NYS Banking Dept. All loans arranged through third party providers.
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