Calculate your Closing Costs!

Closing Costs (U.S. Average)
Origination Fees
Closing Costs
Average Charge*
Points ($)
Fees lender’s charge upfront in exchange for a
lower interest rate, with each point equaling 1%
of the amount of the loan. Typically, the more
points paid up front, the lower the interest rate
on the loan.
Application fee
It is not at all uncommon for lenders to charge an
application fee. Negotiable.
Commitment fee
Banks term for underwriting fee. Fee charged to
have your loan reviewed by an underwriter. Also
known as a “junk” fee. Negotiable.
Document preparation
Covers the preparation of final legal documents,
essentially a way to extract more money from
the borrower and put a label on it. Negotiable.
Mortgage broker, origination
or lender fees
Fees charged by brokers to arrange the
financing of your mortgage. This is justified by
representing you and finding you a competitive
rate. Negotiable.
Much like the underwriting fee, this cost is
associated with processing your loan.
Tax service
Issue tax certificates showing current years
taxes, when they were paid last, and any
delinquencies. Negotiable.
Fee charged to have your loan reviewed by an
underwriter. Also known as a “junk” fee.
Wire transfer
Fee to get money from the lender to the
borrower. Negotiable.
Title and Closing Fees
Closing Costs
Average Charge*
The lender will require an appraisal from an
independent appraiser.
Attorney, closing or settlement
Fees paid to an independent attorney for
reviewing the closing papers.
Credit report
Just about all lenders make this fee a
mandatory one.
Flood certification
Service that tells the lender whether the property
is in a flood area or not. This could trigger the
need for flood insurance.
Pest and other inspection
An examination of property for things like,
termite inspection, and whether required
changes were made prior to funds being
Postage / courier
Fees associated with the delivery of documents.
Not all lenders require a survey.
Title insurance
The lender will most certainly require title
insurance to guarantee the title, regardless of
what the title work turns up.
Title work: Title search, plat
drawing, name search,
Title work is conducted to make sure there are
no unpaid mortgages, defective title or taxliens.
Total average fees
Based on a $200,000 loan amount. U.S.
average* total closing costs. Some fees are
omitted from the total, as not all lenders charge
for each and every item.