Closing costs calculator
This mortgage cost calculator helps you estimate closing costs that may apply to your home purchase.
Original Loan – the total amount borrowed.
Years – the length of your loan.
Mortgage Rate – the interest rate of your loan
The following 12 fees are typically required to close a loan. You don’t have to add a value in order to compute an estimate, but they may be included as part of your home purchase.
Origination Fee
The fee associated with the origination of the mortgage loan.
Lender Fees
Any fees required by the lending institution.
Credit Report
Any fees from running your credit report.
Appraisal Fee
Flat service fee incurred when you have the value of your
property assessed by a professional appraiser.
Title Insurance
Costs associated with an insurance policy protecting the buyer.
This insurance protects the buyer if another party challenges
the buyer’s legal ownership of the real estate property after
the sale.
Reconveyance Fee
A flat fee paid at closing that covers the expense of removing
the lien when the loan is paid off in full.
Recording Fee
Flat fee associated with entering the change of ownership into
public land records.
Wire and Courier Fee
Any and all expenses associated with expediting or transfer of
documents.
Endorsement Fee
Fees for any additional endorsements added to the title’s
insurance policy. These additional endorsements would protect
the buyer from future financial liabilities related to
conditions that may have been unknown at the time of purchase,
such as structural damage or code violations.
Title Closing Fee
Fee paid to the title company conducting the closing.
Title Document Preparation Fee
Additional charges covering the cost of preparing and
underwriting the documents by the broker.
Other
Any additional expenses such as property taxes, pest inspection,
attorney fees, and home owner’s association transfer fees.
Closing Costs Calculator
Your Heritage Bank Mortgage Loan Officer will help walk you through the fees associated with your home purchase.
What it takes to get started
What you’ll need to apply
The exact documents needed for a home loan depend on each applicants situation but in general, this is what is needed:
Tax Returns, Pay stubs, W-2’s, 1099’s, K-1’s (as applicable); Bank statements and other financial documents (retirement quarterly statement), credit history, gift letters, photo ID, rental history, etc.
Apply & await review
Meet with a loan officer
