Understanding Closing Costs – Fairway Independant Mortgage Corporation, New Berlin], WI

Closing Costs

Regardless of what others tell you, there are costs associated with your loan. When a lender is offering you a loan with no closing costs, your interest rate will increase in order to cover these costs. We offer the same option if that is what you prefer.

Standard Closing Costs

LOAN RELATED COSTS

Appraisal fee: $0 to $450 - this fee depends on type of property, amount borrowed against property, and overall credit worthiness. We will work to keep this fee to a minimum.
Credit Report: $10
Flood Certification: $15
Administrative Fees: $500
Document Preperation: $100

TITLE FEES

Loan Closing Fee: $195
Title Insurance $250
County recording Fees $45

That's it!!! We do not charge origination fees or discount points unless you are looking to buy your interest rate down. Typically, 1 point (1% of your loan amount) will buy your rate down by .25%. Please call to verify today's rates.