Home Mortgage Closing Costs

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Illinois
Application Fee	$350 Due at time of application
Processing Fee	$300
Flood Certification	$18
Title and Recording Charges	Purchases - Costs vary depending on the loan amount and the Title Company used by the seller. An estimate of Title and Recording charges will be sent to you on your Good Faith Estimate. Refinance - $500.00*
Interest	Interest is charged from the day of closing on Purchases and the day of funding on Refinances. Your Good Faith Estimate will reflect interest for 30 days, since this is the worst case scenario.
Escrows	You may waive an escrow account if your loan amount is 80% or less than the value of your home. Please note that a rate adjustment may apply. If you would like an escrow account, the amount due at closing will vary depending on when your real estate taxes and homeowners insurance are due.
Private Mortgage Insurance (PMI)	Required on loan amounts over 80% of the value of the home. Monthly premium will vary depending on the loan amount, loan to value, term of loan and type of loan.

* $500 is usually the amount charged unless other documents have to be recorded in addition to our mortgage.