Settlement Costs

The table below shows an example of settlement costs; however, as costs vary from one lender to another and from one area to another, the example is an estimate only. It is based on a $150,000 home with a 5% or a 20% down payment.

Item	Typical range	Estimate for $150,000 house
Item	Typical range	5% Downpayment	20% Downpayment
Mortgage amount	-	$142,500	$120,000
Down Payment	-	$7,500	$30,000
Items Payable in Connection with the Loan
Application fee	-	$75 to $300	$75 to $300
Loan origination fee	1 to 1.5%	$1,452 to 2,137	$1,200 to $1,800
Appraisal fee	-	$350 to $700	$350 to $700
Points	0 to 3%	$0 to $4,500	$0 to $3,600
Lender's inspection fee	-	$175 to $350	$175 to $350
Assumption fee (if applicable)	$300 to $1,000	-	-
Items Payable in Advance
Prepaid interest	6% (in this example)	$350	$295
Homeowner's insurance	$500 to $700	$525	$525
Flood determination	-	$15 to $50	$15 to $50
Reserves (Escrow) Deposited with Lender
Private MI	-	$125 to $250	--
Homeowners insurance	-	$250 to $350	$250 to $350
Title Charges
Title search and lender's title insurance	-	700 to 900	700 to 900
Government Recording and Transfer Fees
Recording fees for deed, mortgage, city/county taxes, and state taxes	0 to 1.5% of loan	$0 to $2,137	$0 to $1,800
Additional Charges
Pest inspection	-	$50 to $90	$50 to $90
Survey	-	$150 to $300	$150 to $300
Settlement fees	-	$500 to $1,000	$500 to $1,000
Other Amounts
- Personal property assessments - Prorated condominium fees - Homeowners' association fees - Prorated taxes - Fuel - Oil - Propane	Variable	-	-

Not including reserves for property taxes and down payment, settlement costs for the 20% down payment loan vary between $4,285 and $12,060; settlement costs for the 5% down payment loan vary between $4,690 and $13,940. Your costs may be higher or lower than the examples shown above.