As Monique so well described, closing costs depend on the sales price as well as the local taxes, escrow fees, etc.
The following information is designed to help borrowers understand the types of closing costs involved in obtaining a first mortgage. The costs will vary depending on the city, county, type of mortgage and loan amount.
Items Payable in Connection With Your Loan
Loan Origination Fee-Typically 1% of the loan amount ( $100,000 loan would be $1,000).
Appraisal Fee $275.00
Credit Report $65.00
Tax Service Fee $70.00
Underwriting Fee $300.00
Flood Certificate $25.00
Pre Paid Items
Interest-will be between 1-30 days, depending on when in the month you close
Hazard Insurance - 1 year premium
Hazard Insurance - 2 -3 Months
Taxes - 2 - 3 Months
Mortgage Insurance - 2-3 Months if applicable
Closing Fee $125.00
Title Policy $75.00-$750+ Depending on loan amount, purchase or refinance
Courier Fee $20.00
Recording & Transfer Fees
Recording Fees $45.00
Documentary stamps (varies by state)
Intangible tax and stamps on mortgage (varies by state)
There may be additional costs which vary depending on the lender and the buyer's credit. At least this information can serve as a guide for what is involved in closing costs.
Should you have any other questions, please feel free to contact me at http://www.maggiehomefinder.com.