Typical Expenses And Closing Costs


 
Expense Item Amount When Payable
Property Appraisal $275-$350
Check with your lending institution
Usually at time of mortgage application
Property Inspection Fee $300-$400 approx. At time of inspection
Legal Fees $700 +/-
Varies with property
and lawyer
Closing Date
Legal Disbursements, Costs $200-$300 approx.
Tax certificate $40 +/-
Title search $100 +/-
Record deed/mortgage $100 +/-
Closing Date
Property Survey $300-$400 +
(may not be needed)
Closing Date
Mortgage Interest Adjustment $100-$300+
Usually on closings that are not at
month end
Closing Date
Mortgage Insurance Up to 80% – 1.25%
Up to 85% – 2.00%
Up to 95% – 2.50%
Generally amortized with
mortgage
Adjustments for Fuel and
Property Taxes
Fuel – $300 +/- (varies)
Taxes – 1/2 year +/- (varies)
Closing Date
Home & Property Insurance $300-$500 +/- Closing Date
Moving Expenses Varies Moving Day
Appliances, Drapes,
Lawn Mower, etc.
Varies Your choice!
The above information is provided for discussion purposes only and should not be
relied upon without verification from the appropriate person or institution.