Estimated Costs
Paid at Closing
The following is an estimate of the costs typically associated with the purchase of a home.
$1,000-$1,500 Lender Processing & Underwriting Fees
(actual charges can be more or less)
$200-$400 Lender’s Title Insurance Fee To ensure the lender’s interest in the property is the first mortgage.
$2,800-$3,500 Title Company Fees Based on the value of the property.
$7.50 Chicago Revenue Transfer Stamps Per 1,000 on purchase price.
Prior to Closing
Homeowner’s Insurance Varies based on the property. Tax Reserve Fund
A minimum of two months of estimated taxes placed into escrow if required by the lender, depending on the timing of closing. Condominium Charges Condominium associations may charge an application fee, move-in fee, etc.
$400-$575 Appraisal & Credit Report Paid to the lender $400-$800 Inspection Differs according to the size of the property
Made with FlippingBook Online newsletter maker