Although Broker fees for Buyers are FREE when you hire Stephanie Bateman, REALTOR® you must keep other CLOSING COSTS in mind when planning your home purchase. Closings costs typically amount to 2-4% in addition to your down payment. Be sure you budget to avoid unexpected delays. Below is an estimated representation of costs.
Estimated Texas Closing Costs*
City of Houston
Loan amount $200,000
Itemized Origination Fees Charged by the Lender
Origination points $792
Commitment fee $370
Document preparation $68
Broker, originator or lender $1,032
Tax service $81
Itemized 3rd-Party Fees
Attorney, closing or settlement $426
Credit report $22
Flood certification $10
Total Origination Fees Charged by Lenders $1,032
Total 3rd-party fees $1,143
Pre-Paid Property Taxes Reserves $1500
Pre-Paid Insurance $2000
*Bankrate.com surveyed up to 10 lenders in each state in June 2016 and obtained online Loan Estimates for a $200,000 mortgage to buy a single-family home with a 20% down payment in a large city. Costs include fees charged by lenders, as well as 3rd-party fees for services such as appraisals and credit reports. The survey excludes title insurance, title search, taxes, property insurance, association fees, interest and other prepaid items. The itemized average fees do not total to the average fees because the lenders’ charges vary. Taxes and Insurance rates vary by County. It is recommended to contact your insurer for an estimate directly. Your lender should provide an estimate of costs upon pre-approval.
For more information on selling or buying real estate in Houston including Pearland, Friendswood, League City, Clear Lake and more, contact Stephanie Bateman, REALTOR®.