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Rates & Closing Costs

These rates are based off a minimum conforming loan amount of $300,000 for Conventional and VA loans and $271,050 for FHA loans, primary residence purchase money mortgage, credit scores over 740 and debt to income ratio of 38%, assuming a 1% origination fee

Rate Sheet Add-ons for Credit Score, Loan-to-Values & Loan Type

 

FHA 15 year fixed  
Fannie Mae 15 year fixed 3.375%
FHA & VA 30 year fixed 4.00%
Fannie Mae 30 year fixed 3.875%
Fannie Mae 5 year ARM 2.75%

 * rates last updated 8/25/10 at 10am CST*

 

These rates are available if loan is accepted and pre-approved. Approval form immediate delivery and rates are subject to change at any moment.
BUYING YOUR HOME Settlement Costs and Helpful Information: This is the U.S. Department of Housing and Urban Development Office of Housing - Federal Housing Administration's booklet. It describes the home buying, home financing and settlement process.
 
CLOSING COSTS: There are always costs involved when obtaining financing. The standard fees are listed below.
 
Points points are based off credit score and rate
Credit Report $12.45 - $55
Appraisal $350 - $950
Appraisal Review/Final Inspection $75 - $350
Underwriting $395
Processing $250
Tax Service $85
Flood Certificate $17
Settlement Agent/Attorney Fee $300 - $450
Document Prep (closing agent fee) $50 - $75
Title Examination/Title Search $125 - $200
Courier Fee (closing agent fee) $15 - $100
Wire Fee (closing agent fee) $12 - $35
Title Insurance
Loan Policies- Rate per $1000
 
Up to and including $100,000 of liability-$2.50
Over $100,000 and up to and including $500,000, add -$1.75
Over $500,000 and up to and including $10,000,000, add-$1.50
Over $10,000,000 and up to and including $15,000,000, add-$1.25
Over $15,000,000, add $1.00
 
Owners Policies- Rate per $1000
 
Up to and including $100,000 of liability-$3.50
Over $100,000 and up to and including $5,000,000, add -$2.00
Over $5,000,000 and up to and including $10,000,000, add-$1.75
Over $10,000,000 and up to and including $15,000,000, add-$1.50
Over $15,000,000, add $1.25
 
To Calculate Both:
Calculate the Owner's premium and add $50-$75 for Lenders coverage.
Recording Fee

Deeds:
Deed Tax - $1.00 per Thousand
First Page - $3.50
Each Additional Page - $2.50
First Source of Title - $1.00
Each Additional Source - $0.25
Probate Judge Fee - $2.00

Mortgages:
Mortgage Tax - $0.15 per Hundred
First Page - $3.50
Each Additional Page - $2.50
First Source of Title - $1.00
Each Additional Source - $.025
Each Additional Mortgagor Over 2 - $1.00
Each Additional Mortgagee Over 2 - $1.00
Probate Judge Fee - $2.00
**Wood Infestation Report/ Termite Bond $100 - $300
**Survey $300 - $500
**Home Inspection $300 - $500
Home Owner's Insurance  You will need to discuss with your insurance agent
Property Taxes  Call the Tax Assessor's Office 205-349-3870

**these items are not required by the lender but depending on your sales contract may be an added expense to you.