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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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