Texas Cash Back Real Estate Jill Aylwin - Real Estate Broker, Realtor, MBA E-mail: jill@texascashbackrealestate.com     Ph: (281) 334-CASH

Closing Costs For You - The Buyer

The HUD-1 or Settlement Statement

Buyers will receive a Settlement Statement of closing costs prior to the closing. Your Agent will be able to review your Settlement Statement with you and answer questions.

The Typical Closing Costs

Loan-Related Costs

Loan Origination Fee

• Points (optional)

• Appraisal Fee

• Credit Report

• Survey Fee

• Interest Payment

• Escrow Account

• Courier Fees

Taxes

• County, City, State Property Taxes

• Transfer Taxes and Recording Fees

Insurance

• Homeowners Insurance

• Flood Insurance

• Windstorm Insurance

• Private Mortgage Insurance (PMI)

• Title Insurance

  Closing Costs Worksheet

Paid from Buyer's Funds at Closing--Paid from Seller's Funds at Closing

Principal Costs

Sale Price of Home $ ___ $ ___

Closing Agent Costs $ ___ $ ___

Subtotal $ ___ $ ___

Mortgage-Related Costs

Loan Origination Fee $ ___ $ ___

Loan Discount Points $ ___ $ ___

Appraisal Fee $ ___ $ ___

Credit Report Fee $ ___ $ ___

Assumption Fee $ ___ $ ___

Prepaid Interest $ ___ $ ___

Subtotal $ ___ $ ___

Insurance Premium Costs

Mortgage Insurance Premium $ ___ $ ___

First Year Homeowner's Insurance Premium $ ___ $ ___

Subtotal $ ___ $ ___

Escrow Accounts (Reserves)

Mortgage Insurance $ ___ $ ___

Homeowner's Insurance $ ___ $ ___

Property Tax $ ___ $ ___

Subtotal $ ___ $ ___

Government-Imposed Costs

Recording Fee $ ___ $ ___

Transfer Tax $ ___ $ ___

Subtotal $ ___ $ ___

Additional Costs

Property Survey $ ___ $ ___

Termite Inspection $ ___ $ ___

Well and Septic Certifications $ ___ $ ___

Homeowner's Association Fee $ ___ $ ___

Condominium Fee $ ___ $ ___

Other $ ___ $ ___

Subtotal $ ___ $ ___

Grand Subtotal $ ___ $ ___

Costs to Subtract (Minus)

Earnest Money Deposit $ ___ $ ___

Mortgage Loan Amount $ ___ $ ___

Seller Credits (use seller's subtotal) $ ___ $ ___

Subtotal $ ___ $ ___

Total Amount Needed for Closing $ ___ $ ___

For New Construction Home in Texas:

Most Texas homebuilders will pay for the buyer's title policy, or may offer up 2% of the closing cost, and in many cases will pay all of the closing cost if the buyer uses the homebuilders lenders.

Also, you -the buyer- will want to get pre-approved for a New Construction Home Loan. If you come to the builder pre-approved, you have much more purchasing power and the homebuilder's lender has to be more competitive with the interest rate.

E-mail jill@texascashbackrealestate.com today
-- Or -- Call us anytime at (281) 334-CASH