| Expense Item |
Amount |
When Payable |
Mortgage Application Fee
& Appraisal |
$235-$250
Check with your
lending institution |
At time of mortgage application |
| Property Inspection Fee |
$350 approx. |
At time of inspection |
| Legal Fees |
$500 +/-
Varies with property
and lawyer |
Closing Date |
| Legal Disbursements, Costs |
$200-$300 approx.
Tax certificate $40 +/-
Title search $100 +/-
Record deed/mortgage $100 +/- |
Closing Date |
| Property Survey |
$400-$600+
(may not be needed) |
Closing Date |
| Land Transfer Tax |
.025% of purchase price |
Closing Date |
| Mortgage Interest Adjustment |
$100-$300+
Usually on closings that are not at
month end |
Closing Date |
| Mortgage Insurance |
Up to 80% - 1.25%
Up to 85% - 2.00%
Up to 95% - 2.50% |
Generally amortized with
mortgage |
Adjustments for Fuel and
Property Taxes |
Fuel - $300 +/- (varies)
Taxes - adjusted per mo. (varies) |
Closing Date |
| Home & Property Insurance |
$300-$500 +/- |
Closing Date |
| Moving Expenses |
Varies |
Moving Day |
Appliances, Drapes,
Lawn Mower, etc. |
Varies |
Your choice! |
The above information is provided for discussion purposes only and should not be relied upon without verification from the appropriate person or institution.
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