To submit this form, ensure that all required fields are completed accurately. You can either send the worksheet via email to your lender or print and fax it to the appropriate office. If you prefer, drop the completed form off in person at your lender's office for immediate processing.

Be mindful of the key dates related to closing costs and mortgage applications in 2024 and 2025. Ensure timely submission of necessary documentation ahead of these deadlines to avoid delays. Staying informed helps in the smooth execution of your home purchase.

The purpose of this form is to provide a clear estimate of the closing costs a homebuyer may encounter during the purchase process. It serves as a financial planning tool that helps buyers understand their financial obligations and prepare accordingly. Additionally, this form facilitates communication between buyers and lenders, ensuring transparency throughout the transaction.

• 1. Origination Fee: Typically between 0.5% to 1% of the loan amount to cover loan processing.
• 2. Credit Report Fee: Cost for obtaining your credit history and score, usually up to $30.
• 3. Appraisal Fee: Fee paid to confirm the property's fair market value, ranging from $100 to $400.
• 4. Building Inspection: Inspector fees that typically range from $150 to $450.
• 5. Survey: Cost of verifying property lines; if needed, it typically costs $300 to $400.
• 6. Legal Fees: Attorney fees that guide you through the home buying process, generally between $300 and $600.
• 7. Title Search: Cost paid for background checks on the title; usually $125 to $200.
• 8. Title Insurance: Insurance protecting the lender, usually about 0.5% of the home's purchase price.
• 9. Private Mortgage Insurance (PMI): Required if the down payment is less than 20%, typically 2.5% of the mortgage.
• 10. Homeowners Insurance: Insurance covering potential damages to your home, averaging $300 and up.
• 11. Prepaid Interest: Interest paid at closing for the initial month of ownership, cost varies.
• 12. Points: Prepaid interest calculated as 1% of the loan amount, affecting monthly payments.
• 13. Escrow Fees: Paid to title or escrow company for closing services.
• 14. Realty Tax Transfer: Fees paid to record new land records with the city or county.

Failing to submit the Closing Cost Estimation Worksheet may result in delays in loan processing and a lack of clarity regarding closing expenses. It is crucial to submit this form accurately and on time to avoid unexpected costs at closing. Proper submission ensures all parties have a clear understanding of the financial obligations involved.

• Delayed Loan Processing: Without submitting this form, your loan approval process could be delayed.
• Unclear Financial Obligations: Not submitting may lead to confusion about closing costs that need to be addressed.
• Unexpected Costs: Failure to complete the worksheet might result in encountering surprise fees at closing.

• 1. Home Purchase Planning: Use the form to prepare for the costs associated with buying a property.
• 2. Loan Application Process: Complete this worksheet before applying for a mortgage.
• 3. Communication with Lenders: Share your completed worksheet with lenders for clarity on costs.