other closing costs

Other closing costs are fees charged by lenders at closing.  These costs will vary from one mortgage lender to another.  Some closing costs are itemized under Total Savings Needed automatically, however; you may account for additional costs you pay for in this field.

Not Required (Do Not Enter in Commas)

Min: 0
Max: 5000
Decimals: 0

Remarks
Important Tip: It is typical for the buyer to pay these costs, however; who pays for what is negotiable.  It may be possible to finance all or some of the closing costs as well.  Fannie Mae estimates total closing costs typically range from 3-6% of the Purchase Price.

Also, do not include escrow amounts for PMI, HOI, and property taxes here.  These costs are already accounted for.  Your lender will assist you with escrow information.

Escrow Account: This is a "reserve" account used to pay taxes and insurance and is managed by a third party.  Ask your lender for details.

The following list illustrates some common other closing costs you may incur:

• assumption fee
• attorneys fee
• condominium fee
• co-op fee
• document prep. fee
• property survey fee
• recording fee
• well & septic certification
• transfer taxes
• pre-paid interest
• underwriting & processing fees
• credit report fee
• appraisal fee
• other

*Items in red are "generally accepted" inputs for the APR% calculation

Example
If other closing costs are $400 enter: 400

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