Estimated Closing Costs In The Baltimore Area

Common Disbursements

Loan Origination Fee

$390.00

Credit Report

65.00

Tax Service Fee

75.00

Underwriting Fee

175.00

Processing Fee

175.00

Mortgagee's Title Policy

250.00 - 400.00

Flood Certificate

25.00

Survey Fee

225.00

Courier/Express Mail

50.00

Home Inspection Fee

250.00

Termite Inspection

75.00

Appraisal Fee

275.00

Cesspool / Well Certification  (If Necessary )

75.00

Other Fees - If your down payment is less than 20% of the purchase price of the property, the mortgage will require PMI/MIP insurance. This will result in an additional out-of-pocket expense of 2.25% of the mortgage. This upfront cost can be financed into the mortgage There is also a monthly PMI/MIP insurance premium, which is added to the mortgage payment. This premium ranges from .5% of the mortgage value to .78% depending on the size of down payment.

State Tax on Mortgage – 0.35 per 100

State Mortgage Intangible Tax – 0.20 per 100

Tax Deposits as required

Flood Insurance Premium  - If required

Hazard Insurance Premium as required

Transaction Coordination Fee

*These figures are an estimate only. They are subject to change and it is recommended that you consult your lawyer for confirmation of your total costs.