Mortgage Fees

My mortgage cost were about $1108.00 That did not include title insurance or any proration of taxes or insurance. The appraisal was $300.00, Document Prep. was $150.00, Processing $250.00, Application Fee $200.00, Notary Fee 8.00, and the Atty. Fee was $200.00. These costs didn't include my title insurance which was $900.00. I also had to pay my homeowners insurance for one full year. I made my check payable to the Title Company and then they divided up my checks to pay the Atty. and the Appraiser.

I really thought that my costs were very low. My loan officer was very helpful, they held my hand the whole way. Compared to some people I've talked to, it sounds like I got a very good price for what I got. The only thing that I didn't like was, it seemed like everybody got something out of it, the Atty., the Appraiser, etc. But I have to say, I feel like I got my money's worth.

Its important to know what the costs are of the mortgage upfront. Don't be afraid to ask questions. Also, something I learned by asking was, I wanted my processing fee to be lowered, and the back cut it by $50.00. The moral of the story is, if you are a qualified borrower, don't be afraid to ask for a little extra from the bank.