Don't Be in the Dark About Your Settlement Costs

Although your total settlement charges will vary depending upon the loan you’re getting, your interest rate and other factors, the fees that you will be charged shouldn't be a mystery. When you apply for a loan, you’ll receive a Good Faith Estimate (GFE) that lists an estimate of the charges you can expect to pay. Before going to settlement, you’ll be given a HUD-1 form which details the actual charges and these should match up fairly closely with the estimates on the GFE.

The chart below shows the 2014 average cost by U.S. state for a lender’s origination fees plus third-party fees (for services such as appraisals, credit reports, etc.). The totals are based on a $200,000 mortgage with a 20 percent down payment and good credit.

Keep in mind that these numbers are just averages and do not include other variable items such as title insurance, taxes, title search, interest, escrow fees, and other pre-paid items.

For more than 25 years, Omega Financial has been serving mortgage clients in Massachusetts. Our brokers have approximately 50 years in the mortgage business. You always will receive fast, courteous, and accurate information. Omega Financial, Inc. is a company duly licensed to operate in Massachusetts as a Mortgage Brokerage. We are located in the Town of Norwood, Massachusetts where we have been operating as Omega Financial Incorporated since 1988. Licensed by the Commissioner of Banks - License No. MB2671

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