The Mortgage Loan Closing Costs We Pay (& Those We Don’t)
Most people will only do two or three mortgage transactions in a lifetime, so we’re committed to helping you understand all aspects of your loan transaction in relation to mortgage loan closing costs.
Below you’ll find the mortgage loan closing costs we pay and those other charges that we do not pay.
The Money You May Bring to Closing Can be Put Into Four Categories:
- Mortgage loan closing costs
- Pre-paid items
- Third party services paid at closing
- Down payment
Read below to learn more about each category. On this list, you’re only responsible for the mortgage loan closing costs, and our no cost loans even cover those for you.
1. Mortgage Loan Closing Costs (As They Would Be With a No Cost Loan):
| HUD# | Closing Costs | Amount |
| 801 | Loan origination fee | $0.00 |
| 802 | Loan discount fee | $0.00 |
| 803 | Appraisal fee | $0.00 |
| 804 | Credit report | $0.00 |
| 808 | Lender processing fee | $0.00 |
| 806 | Tax service | $0.00 |
| 809 | Application fee | $0.00 |
| 807 | Flood report fee | $0.00 |
| 810 | Wire transfer | $0.00 |
| 1102 | Closing fee | $0.00 |
| 1103 | Lender’s title policy | $0.00 |
| 1109 | Document preparation fee | $0.00 |
| 1107 | Attorney’s fee | $0.00 |
| 1201 | Recording fees | $0.00 |
| 1202 | City/county tax stamps | $0.00 |
| TOTAL CLOSING COSTS | $0.00 |
2. Pre-Paid Items
Pre-paid items are the interest from the day you start your new loan until the end of the month, plus the money that is put into your escrow account, which is the money held by the mortgage company to pay your yearly property taxes and insurance premiums. Your monthly payment includes an amount which is placed in this fund. This amount is adjusted on a regular basis as your taxes and insurance increase.
3. Third Party Services Paid at Closing
A refinance will rarely have third party fees but they are common on a home purchase. Third party service fees often include but are not limited to:
- Home inspection
- Termite inspection
- Radon inspection
- HVAC inspection
- Survey
- Wells or septic inspection
- HOA transfer and initiation
- First time home buyer counseling
- Mortgage credit certificate
4. Down Payment
On a home purchase you will bring the required down payment. Your earnest money will be refunded to you at closing.
Enjoy No Mortgage Loan Closing Costs from DNJ Gateway Mortgage!
Home buyers from Maryland, Virginia, North Carolina, South Carolina, Georgia and Florida can take advantage of our no mortgage loan closing costs program and save thousands of dollars over conventional loans.
Learn more today by calling one of our North Carolina offices, or contact us toll free at 877-9-NO-COST (877-966-2678)!
DNJ Gateway Mortgage proudly serves clients in Raleigh, Durham, Chapel Hill, Cary, Apex, Greenville, Fayetteville, Fort Bragg, Greensboro, Winston Salem, High Point, Wilmington, and Charlotte, NC, and surrounding areas. We also offer mortgages in South Carolina, Virginia, Maryland, Georgia and Florida.
