Have you ever wondered who is allowed (or required!) to pay what fees. Hopefully, this chart will help!
Fee/Expense |
Borrower |
Seller |
4% Concession |
1% origination fee |
x |
x |
|
Discount Points-customary |
x |
x |
|
Discount Points-to permanently buydown interest rate |
x |
x |
x |
Escrowed Funds for temporary buydown |
x |
x |
x |
Funding Fee |
x |
x |
x |
Appraisal |
x |
x |
|
2nd Appraisal requested by Veteran for reconsideration of value |
x |
x |
|
2nd Appraisal requested by lender for reconsideration of value |
|
x |
|
Recording Fees |
x |
x |
|
Credit Report |
x |
x |
|
Prepaid Taxes and Insurance |
x |
x |
x |
Prepaid Interest |
x |
x |
|
Hazard / Flood Insurance |
x |
x |
|
Flood Cert |
x |
x |
|
Title Examination |
x |
x |
|
Title Insurance |
x |
x |
|
Section II, Continued from Section I above
continued....
Fee/Expense |
Borrower |
Seller |
4% Concession |
Termite Inspection |
|
x |
|
Mailing Fees – Refinance |
x |
|
|
MERS Fee |
x |
x |
|
Loan closing or settlement fee |
|
x |
|
Doc Prep, UW, Processing/App Fees |
|
x |
|
Attorney services (other than title work) |
|
x |
|
Photographs |
|
x |
|
Interest rate lock-in fees |
|
x |
|
Postage, mailing, telephone calls |
|
x |
|
Amortization schedules |
|
x |
|
Escrow charges |
|
x |
|
Notary fees, trustee fees |
|
x |
|
Tax Service fee |
|
x |
|
Fee or commissions to buyer’s agent |
|
x |
|
Gifts from seller – Example: TV or microwave |
|
x |
x |
Payoff of credit balances or judgments |
|
x |
x |
If you have questions or request clairfication, contact your Colorado Home lender.