All Mortgage Loans are not
the same, this is a list of typical mortgage loan cost to
obtain a home loan and purchase a home. Cost include a required
down payment, along with escrow and closing cost.
Know These Requirements and Cost Before
You Sign! Ask Your Lender For a Copy of The Cost Before You
Start The Loan Process. Some May Have Cost On Their Websites.
Sample of Mortgage Loan Requirements:
$ Loan Amount
$ Monthly Payment(this usually does not include tax+ins.)
Interest Rate
Annual Percentage Rate (APR)
Maximum Loan to Value (LTV) --% down
Days to Lock in Loan Rates Period
Does The Loan have a Prepayment Penalty
Sample of Expected Loan FEES and Escrow Cost
$ Points (1) Includes Origination AND Discount Points
$ Application Fee
$ Appraisal Fee
$ Underwriting Fee
$ Administrative Fee
$ Documents Fee
$ Processing Fee
$ Homeowners Certification
$ Courier, Mailing & Delivery
$ Flood Certification
$ Notary
$ Recording Fee
$ Wire Transfer Fee
$ Reconveyance Fee
$ Tax Service
$ Settlement / Closing
$ Credit Report
$ TOTAL FEES LISTED BY THIS LENDER
(you should also include title insurance, mortgage insurance,
hazard insurance, so you will know your total estimated monthly
mortgage payment etc.), also see fdic.gov
The government now provides for "No Down Payment Mortgage" for
first time home buyers. Do an online search, or call banks
and mortgage companies in your area to see if they carry
the, "No Down Payment Mortgage." Not all banks
and mortgage companies carry them.
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