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Calculate your Closing Costs!

Closing Costs (U.S. Average)
Origination Fees
Closing Costs
Average Charge*
Description
Points ($)
$1,043
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
$250
It is not at all uncommon for lenders to charge an
application fee. Negotiable.
Commitment fee
$371
Banks term for underwriting fee. Fee charged to
have your loan reviewed by an underwriter. Also
known as a “junk” fee. Negotiable.
Document preparation
$291
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
$779
Fees charged by brokers to arrange the
financing of your mortgage. This is justified by
representing you and finding you a competitive
rate. Negotiable.
Processing
$386
Much like the underwriting fee, this cost is
associated with processing your loan.
Negotiable.
Tax service
$67
Issue tax certificates showing current years
taxes, when they were paid last, and any
delinquencies. Negotiable.
Underwriting
$201
Fee charged to have your loan reviewed by an
underwriter. Also known as a “junk” fee.
Negotiable.
Wire transfer
$16
Fee to get money from the lender to the
borrower. Negotiable.
Title and Closing Fees
Closing Costs
Average Charge*
Description
Appraisal
$343
The lender will require an appraisal from an
independent appraiser.
Attorney, closing or settlement
fee
$362
Fees paid to an independent attorney for
reviewing the closing papers.
Credit report
$22
Just about all lenders make this fee a
mandatory one.
Flood certification
$14
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
$60
An examination of property for things like,
termite inspection, and whether required
changes were made prior to funds being
disbursed.
Postage / courier
$35
Fees associated with the delivery of documents.
Survey
$144
Not all lenders require a survey.
Title insurance
$663
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,
endorsements
$196
Title work is conducted to make sure there are
no unpaid mortgages, defective title or taxliens.
Total average fees
$3,024
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.