More search options

Common Closing Cost Fee

Closing costs are the fees / cost of closing your mortgage loan. While some of these fees are constant, others vary significanthly on loan amount, scope of work, location, lender, and many other factors.

To the right are examples of what the costs are to close a loan based on the following criteria:

  • 720 FICO
  • 5% down payment
  • Property is in Ramsey or Hennepin county
  • No lender credit or discount
  • Fees are approximated*

These examples above do not include property taxes, insurance or daily interest. On average, the amount collected of each is:

  • 7 months taxes
  • 15 months insurance
  • 15 days of interest
Sale Price$150,000
Loan Amount$142,500
Closing Costs~$4,085
Sale Price$150,000
Loan Amount$142,500
Closing Costs~$4,085
Sale Price$150,000
Loan Amount$142,500
Closing Costs~$4,085
Sale Price$150,000
Loan Amount$142,500
Closing Costs~$4,085

Closing Costs Include:

Loan Cost
  • Lender credit/discount point
  • Underwriting fees
  • Appraisal Fees
  • Credit Report Fees
  • Certification Fees
  • Title Services
Other Cost
  • Taxes and Government Fees
  • Prepaid costs
    • Insurance
    • Property Tax
    • Other