closing costs: who pays what THiS CHART inDiCATES wHo CUSTomARilY PAYS wHAT CoSTS
cash ctM fha va cOnv
1. Downpayment 2. termite( wood infestation) inspection( negotiable except on VA) 3. property inspection( if requested by Buyer) 4. property Repairs, if any( negotiable) 5. New Loan origination fee( negotiable) 6. Discount points( negotiable) 7. Document preparation fee( Charge Seller on FHA / VA) 8. Credit Report 9. appraisal or Extension fee( negotiable) 10. interest proration on Seller’ s Existing Loan 11. Existing Loan payoff 12. Existing Loan payoff Demand 13. Loan prepayment penalty( if any) 14. Next month’ s piti payment 15. prepaid interest( approx. 30 days) 16. mortgage transfer fee 17. Reserve account Balance( Credit Seller / Charge Buyer) 18. fha mip, va funding fee, pmi premium 19. assessments payoff or proration( sewer, paving, etc.) 20. taxes 21. tax impounds 22. tax Service Contract 23. fire / hazard insurance 24. flood insurance 25. homeowners association( HOA) transfer fee 26. hoa / Disclosure fee 27. Current hoa payment 28. Next month’ s hoa payment 29. home warranty premium( negotiable) 30. Realtors ®’ Commissions 31. EagLE homeowners title policy 32. Lenders title policy and Endorsements 33. account Servicing Set-up fee( negotiable) 34. Escrow fee( NOTE: Charge Seller on VA Loan) 35. Recording fees( Flat Rate) 36. Reconveyance / Satisfaction fee 37. Courier / Express mail fees 38. wire fees 39. Email Loan Documents
BUYER
BUYER SELLER
BUYER
BUYER SELLER
BUYER
BUYER SELLER
BUYER SELLER BUYER SELLER
BUYER
BUYER
SELLER BUYER BUYER BUYER BUYER
SELLER
BUYER
SELLER SELLER BUYER BUYER BUYER BUYER BUYER
SELLER
BUYER BUYER BUYER
SELLER SELLER SELLER SELLER SELLER SELLER SELLER SELLER SELLER SELLER SELLER SELLER
SELLER PRoRATE
BUYER BUYER BUYER BUYER
SPLIT
BUYER BUYER BUYER
PRoRATE PRoRATE PRoRATE PRoRATE PRoRATE BUYER BUYER BUYER SELLER PRoRATE PRoRATE PRoRATE PRoRATE BUYER BUYER BUYER SELLER
SELLER
BUYER BUYER BUYER BUYER BUYER BUYER
SPLIT
BUYER BUYER BUYER
SPLIT SPLIT SELLER SPLIT SELLER SELLER SELLER SELLER SELLER PRoRATE
PRoRATE PRoRATE PRoRATE PRoRATE BUYER BUYER BUYER BUYER BUYER
SELLER SELLER SELLER SELLER SELLER SELLER SELLER SELLER SELLER SELLER
SPLIT SPLIT
SPLIT
BUYER BUYER BUYER
SPLIT SPLIT SELLER SPLIT
SPLIT SPLIT SPLIT SPLIT SELLER SELLER SELLER SELLER SPLIT SPLIT
SPLIT SPLIT SELLER SPLIT SPLIT SPLIT SELLER SPLIT
BUYER SELLER
BUYER
Note: Prorated items will appear on Closing Statement as charges for one and credits for the other.
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