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Closing Costs & Fees

Lenders are required by law to disclose in writing your estimated closing costs and fees. This is known as a Good Faith Estimate. Below is a brief summary of possible closing costs you may have to pay depending on the loan program you select. These are average fees charged by most lenders, however, not all of these fees are charged by Member Home Loan. Additional costs might apply depending on your state, your loan product and your down payment amount. For instance, title companies handle most closings, however, there are some states that require an attorney to conduct the closing.

Appraisal $525 - $650
Credit Report $20 - $30
Processing Fee $575 
Escrow Deposit for Taxes & Insurance Varies widely
Transfers Taxes State Regulated
Loan Discount Points As needed to buy-down rate
Title Company Closing Fee $150 - $350
Buyer's Attorney Fee $150
Lender's Attorney Fee $150
Title Insurance (Lender's Policy) State Regulated
Homeowners Insurance Varies - $800 and up
Underwriting Fee $620
Survey Fee $350 - $500
Home Inspection $225 - $450
Down Payment Determined by borrower
Flood Determination $12 - $20
Recording Fees Varies widely depending on municipality 
Courier Fee $30 - $75
Prepaid Interest Varies depending on loan amount, interest rate and time of month you close
Application Fee $95