The following fees will give you an idea of some of the fees you might see on your settlement statement that you would pay to us at the time of closing. They should only be used as a guide, NOT as final figures. Every loan is different and depending on what you have agreed upon with your lender they could vary from the following. Also, our fees are subject to change due to market changes, supplier increases, tax increases, or other factors beyond our control.
Therefore you should (1) refer to your good faith estimate (2) realize that the good faith estimate may not have ALL the charges on it; it is only an estimate and so things can be different at the time of closing.
Attorney/Title Exam Fee
The attorney/title examination fee varies depending on the location of the property, the lender, and the title examiner but is generally between $500.00 and $600.00.
Other Fees
Overnight Payoff
$20.00
Overnight Package to Lender
$30.00
Deed Preparation (if required)
$100.00
POA Preparation (if required)
$75.00
Discharge Preparation (if required)
$50.00
Mortgage Inspection/Plot Plan (if required)
$150.00
Massachusetts
Deed
$125.00
Mortgage
$175.00
Discharge
$75.00
POA
$75.00
Assignment
$75.00
Subordination
$75.00
Municipal Lien Certificate (MLC)
$65.00
|
New Hampshire
Deed
$17.37
Mortgage
$88.83
Discharge
$22.00
POA
$12.37
Assignment
$12.37
Subordination
$12.37 |
Property Taxes
Any tax bill that is outstanding will be collected at the time of closing. If a tax bill is due within 60 days of the closing this will also be collected.
Condominiums
Any condominium fees that are outstanding will be due at the time of closing.
Homeowner's Insurance
Before the closing it is our responsibility to make sure your homeowners insurance has been paid. If it has not been paid, or any balance is due, we will collect it at the time of closing. In addition, the annual premium will be collected if it is due within 60 days of closing.
Payoff
If is our responsibility to obtain payoff information on your current mortgage loan(s); which is why we ask for the information at least 7 business days prior to closing. When trying to estimate what your payoff should be it is a good idea to add $1000 to $2000 to the principal balance shown on your statement depending upon the amount of your loan. The reason for this addition is that the amount shown on your statement does not include interest and interest will be added to the payoff by the lender. This interest is dependent upon the date of your last payment and date the closing takes place. Interest on mortgages is paid in arrears which means when you make a payment you are actually paying for the prior months interest (i.e. if you make a payment on August 1st, you are paying for interest from July 1st thru July 30th). So, if you are closing on the 15th of the month, the loan will not be funded for 3 business days from the time of the closing. We will then add an additional 2 business days for mailing purposes from the date of funding. Therefore, as long as there is no weekend during that time, you would be paying for 20 days worth of interest when paying off your loan.
**NOTE: ALL FEES QUOTED ON THIS WEBSITE ARE SUBJECT TO CHANGE WITHOUT NOTICE, ESPECIALLY THE RECORDING FEES, AND ARE PROVIDED FOR INFORMATIONAL PURPOSES ONLY TO GIVE YOU AN IDEA OF WHAT CLOSING COSTS COULD BE.
|
