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Who Pays What?

  • Apr 1, 2018
Who Pays?

Most of the costs associated with buying and selling a home are listed below; contact your Loan Officer or real estate professional for complete information. Loan Officers will be guided by what the seller and buyer have agreed to in the Contract to Buy and Sell Real Estate (All Types of Properties), which is the standard contract used by your real estate agent.

1. Mortgagee's title policy and endorsements X X X
2. Record warranty deed X X X
3. Record trust deed X X X
4. Tax certficiate X X X
5. State document fee X X X
6. First-year homeowner's insurance premium X X X
7. Hazard insurance reserve (2-3 months) X X X
8. Tax reserve (1-2 months, depending on date of closing) X X X
9. Discount fee only if buying down an interest rate X X X
10. Survery X X X
11. Appraisal X X X
12. Credit report X X X
13. Interest on new loan (depending on date of closing) X X X
14. Water and sewer adjustments X X X
15. HOA dues adjustment and/or transfer fees (if applicable/per contract) X X X
16. Record second deed of trust X X X
17. Loan closing fee X X
18. Real estate closing fee (generally 50%) X X
19. Mortgage insurance premium (MIP) X X
20. Flood certifications X
21. Simultaneous second mortgage closing fee (if applicable) X

22. Simultaneous second mortgage title policy (if applicable) X

23. Mortgage insurance reserve
24. Record assignment of trust deed
25. Realty tax service (if lender charges)
26. Loan origination

27. VA funding fee

1. Loan payoff (per current lender's payoff letter) X X X
2. Owner's title policy premium X X X
3. Release tracking fee X X X
4. Real estate taxes (Jan. 1 to date of closing) X X X
5. Water and sewer adjustments X X X
6. Commissions X X X
7. HOA dues adjustments and/or transfer fees (if applicable/per contract) X X X
8. Seller concessions X X X
9. Real estate closing fee (generally 50% for Conventional and FAH; 100% for VA*) X X X
10. Outstanding taxes (see tax certficate) X

11. Realty tax service (if lender charges*)


* Non-allowable buyer charges for VA Loan.

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