Mortgage Closing Cost Estimator ^top

$

$250.00

$350.00

$275.00

$73.00

$15.00

$20.00

$26.00

$600.00

$

$175.50

$

$125.00

$

Actual costs may vary. These estimates are based on properties located within Monroe County.

If you are re-financing an ESL loan, your closing costs may be less!

Possible Additional Charges

  • Interest Paid at Closing (Calculated from the day of closing to the end of month). Also called "Per Diem" Interest
    • Formula is Loan Amount times Interest Rate divided by 360 days times number of days from closing date to end of month.
  • Discount Points ( if applicable - to lower the interest rate). Each "Point" is equal to 1% of the mortgage amount which is used to lower the interest rate.
  • Property Taxes: based on true taxes as levied for County, Town, Village, City, School
    • If Escrowed (Lender pays taxes when due) - plan on 12 months worth of taxes to be divided between the ESL Tax Escrow account and what is owed back to the seller.
    • If Not Escrowed (you pay your own taxes when due) - plan on an amount to payback the Seller for prepaid taxes.
  • Down Payment - the cash portion paid by a buyer from his own funds to purchase a property.
  • Refinance transactions - an Abstract Rebate will be conducted. The estimated minimum fee for the re-date is $100.00. Fees differ by county.
  • Tax Service Fee - Additional charge for loan amounts of $500,000 or higher.
  • PMI Charge (Private Mortgage Insurance) - required on loans over 80% LTV to protect the Lender in the event of default of the borrower
  • Your Attorney Fees - as charged by your Attorney for services rendered.
  • Other charges or fees as required by the county in which the property is located. Other expenses as agreed upon between the Buyer and Seller.