Buyer closing costs in Sarasota County FL

Sarasota County FL - Buyer closing costs

Home buyers are encouraged to take the opportunity of the low interest rates to invest in real estate before the prices go up. The buyer closing costs in Sarasota County FL will help you to understand the expenses involved with the purchase.

Customary Buyer Closing Costs in Sarasota County FL for a Conventional Mortgage:

1.     Loan origination fee and points

2.     Appraisal fee

3.     Credit report

4.     Tax service fee

5.     Underwriting fee

6.     Document preparation fee

7.     Simultaneous issue mortgage insurance

8.     Owner title insurance policy

9.     Title endorsements

10.   Recording fees for deed and mortgage (estimated $150)

11.   Doc stamps on mortgage ($.0035 x mortgage amount)

12.   Intangible tax on mortgage($.002 x mortgage amount)

13.   Survey

14.  Flood certification(if app)

15.   Termite inspection

16.   Roof certification & 4 points inspection(if applicable)

17.   1^st year homeowner & windstorm insurance

18.   1^st year flood insurance (if applicable)

19.   Courier fee

20.   Escrow: taxes – 4 months(if app), *PMI- 2 months(if app), *MIP-2 months(if app) flood insurance – 2 months(if app)

21.   1st year PMI(over 80% *LTV)

22.   Prepaid interest from day of closing through end of month

23.   Homeowners association dues and transfer fee (if app)

24.   Condominium approval fee and dues (if app)

25.   Assignment of mortgage (if app) 

Customary buyer closing costs in Sarasota County FL for VA and FHA Mortgages:

1.     Loan origination fee and points

2.     Appraisal fee

3.     Credit report

4.     Loan discount points (negotiable)

5.     FHA upfront *MIP

6.     VA funding fee

7.     Simultaneous issue mortgage insurance

8.     Owner title insurance policy

9.     Title endorsements

10.   Recording fees for deed and mortgage (estimated $150)

11.   Doc stamps on mortgage ($.35 x mortgage amount)

12.   Intangible tax on mortgage ($.002 x mortgage amount)

13.   Survey

14.   Flood certification(if app)

15.   Termite inspection

16.   Roof certification & 4 points inspection(if applicable)

17.   1^st year homeowner & windstorm insurance

18.   1^st year flood insurance (if applicable)

19.   Courier fee

20.   Escrow: taxes – 4 months(if app), PMI- 2 months(if app), MIP-2 months(if app) flood insurance – 2 months(if app)

21.   1st year PMI(over 80% LTV)

22.   Prepaid interest from day of closing through end of month

23.   Homeowners association dues and transfer fee (if app)

24.   Condominium approval fee and dues (if app)

*PMI = Private mortgage insurance

*MIP = Mortgage insurance premium

*LTV = Loan to value

Buyer closing costs in Sarasota County FL

If you are a seller you may want to know the Seller Closing Costs in Sarasota County FL as well.

Buyers, I hope you will find the above information helpful. If you have any further questions, just call or text me at 941-716-3090