Closing Attorney Gulf Stream: Common Closing Costs

Your Closing Attorney Gulf Stream will be the first to tell you about the number of fees associated with closing. It is important that you become aware of these right from the start so you know how much it will cost you.

• Mortgage origination fees – These are charged to borrowers for creating and drafting the loan. Traditionally, mortgage origination fees will cost about 1% of the mortgage, but they are negotiable.
• Discount points – Points may be purchased as a means of prepaying interest charges. Likewise, points may be purchased at closing to reduce interest obligations later down the road.
• Appraisal fees – In order to assess the home’s value, an appraisal must be conducted. Not only will lenders require an appraisal but doing so will also cost anywhere from a couple hundred dollars up to $600+.

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