Below is an estimate of a buyer's typical closing costs. It's very important that you, as a buyer, check the lender's fees prior to committing to a loan officer. Lenders can differ significantly in their fees. Some loan officers will quote a low interest rate but more than make up for it on their fees.

Buyer's Estimated Closing Costs
Conventional VA FHA
Appraisal Fee $350 $350 $350
Attorney Fees $300 $0 $250
Credit Report $75 $75 $75
Discount Points (1% of Loan amount) buyers choice buyers choice buyers choice
Escrow Fee $85 $0 $75
Flood Certificate $30 $30 $30
Homeowners Association Fees prorated, actual prorated, actual prorated, actual
Homeowners Insurance 14 months prepaid 14 months prepaid 14 months prepaid
Lenders Inspection Fee $50 $0 $50
Lender Required Tax Reserves 3-4 months 3-4 months 3-4 months
Messenger Fees $85 $0 $85
Mortgagee's Title Fee $195 $195 $195
Loan Origination Fee 1% of loan amount 1% of loan amount 1% of loan amount
Processing Fee $150 $0 $0
Recording Fee $40 $40 $40
Survey $350 $350 $350
Tax Service Fee $150 $0 $0
Home & Termite Inspection Fee $250 (varies by house) $250 (varies by house) $250 (varies by house)
Underwriting Fee $250 $0 $0
VA Funding Fee $0 2-3% of loan amount $0
Wire Transfer Fee $100 $0 $0
Amortization Schedule $25 $0 $25
Misc. cushion $500 $500 $500

Data courtesy of John Chatham

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