TYPICAL CLOSING COSTS Huntsville, Alabama
These numbers vary slightly by lender and loan program. The following is to give you an idea of what to expect.
Owner’s and Mortgagee’s Title Insurance — $4 per $1000 of sales price + $50. This cost is divided equally between purchaser and seller.
Termite Inspection - a purchasers expense approx. $125
Preparation of the deed - a sellers expense approx. $125
Negotiable Closing Cost:
Loan Origination Fee 1% of loan amount
Appraisal Fee $ 400
Credit Report $ 15
Flood Certificate $ 10
Tax Service Fee $ 75
Document Prep $ 250
Underwriting Fee $ 325
Attorney/Title Exam $ 700
Express Mail $ 50
Deed recording $ 1/1000 of down payment + $19.75
Mortgage recording $ 1.50/1000 of loan + $57.20
Discount points are negotiable and vary according to the interest rate. One point = 1% of loan amount. Prepaids and PMI (private mortgage insurance) are purchaser’s expense. The amount of down payment and type of loan determine PMI.
Survey- Depending on property, approximately $400 (This is not considered part of the negotiable closing costs unless required by lender or attorney).
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