Understanding APR Fees
When assessing mortgage costs, the Annual Percentage Rate (APR) offers a clearer picture than the interest rate alone.
Fees Included in APR Finance Charges
- 203K Permits
- 203K Consultant Fee
- 203K Inspection Fee (Lender Makes These Inspections)
- 203K Supplemental Document Fee
- 203K Supplemental Origination Fee
- Administrative Fee
- Amortization Schedule
- Application Fee (if only sometimes charged)
- Appraisal Review (Review by Lender)
- Assignment Fee
- Assumption Fee
- Attorney Fee for Document Preparation or Closing (3rd Party)
- Bank Fee/Points
- Broker’s Fee
- Buydown/Subsidy Fee (Borrower’s Portion)
- Closing Coordination Fee
- Closing Fee
- Commitment Fee
- Compliance Audit
- Consultant Fee
- Conversion Fee
- Copy Fee
- Customer Identification Program (CIP) U.S Patriot Search
- Condo Certification (Lender Required)
- Courier Fee (All, Including Payoff from Title Co.)
- Credit Life Insurance (if required by Lender)
- Discount Fee
- Document Preparation (lender fee)
- Document Preparation Fee (3rd Party Fee) (Some investors consider this to be a prepaid finance charge. We will include it unless you request otherwise)
- Document Review
- Download Fee
- Electronic Delivery
- Engineers Report (if required by Lender)
- eRecording (if paid to creditor or third party)
- Escrow Fees to Title Company
- Escrow Fees to Lender (203K)
- Escrow Waiver Fee to Lender
- Express Mail (All, Including Payoff from Title Co.)
- Final Inspection Fee (unless payable to appraiser)
- Final Inspection Fee – Post Closing
- Flood Life of Loan Monitoring
- Fulfillment Fee
- Funding Fee
- Good Funds (To Lender)
- HOA Certification(Lender Required)
- Home Inspection (if required by Lender)
- Homeownership Counseling Fee
- Home Warranty (if required by Lender)
- HUD Review Fee
- Inspection/Photo Fee (Not to Appraiser)
- Inspection and Handling Fees for the staged
- disbursement of construction loan proceeds
- Insuring Fee
- Interest to End of Month (FHA, VA & Conv.)
- Lender’s Inspection Fee
- Loan Delivery Fee
- Loan Docs. (fees for preparing deeds, mortgages and similar documents if to 3rd party lawyer)
- Loan Level Pricing Adjustment(LLPA)
- Lock-In
- Lock Extension Fee
- Long Distance (To Lender)
- MCC Fee
- MERS File Registration Fee
- Mobile Signing Fee
- Modification Fee
- MIP
- Mortgage Insurance
- Origination Fee
- Per Diem Interest
- Plan Review Fee
- PMI (Initial Premium)
- PMI (Reserves)
- Post Closing Fee
- Pre-Plan Inspection Fee
- Processing Fee
- Rate Lock or Extension Fee
- Rebate Fee
- Refinance Fee
- Release Fee
- Review Fee/Attorney Review Fee
- Supplemental Discount
- Supplemental Origination
- Tax Research Fee (if tax service fee)
- Tax Service Fee (for life of loan)
- Title – Closing Protection Letter Fee
- Title – Commitment Fee
- Title Service Fee
- Transaction Fee
- Transfer Fee
- Underwriting Fee
- USDA Guarantee Fee (Up-Front and Monthly)
- VA Funding Fee
- VA No-Bid Fee
- Warehouse Fee
- Warranty Deed
- Wire Fee
- Abstractor’s Certificate
- Application Fee – (if charged to all persons seeking credit, whether or not credit is actually extended.)
- Appraisal Fee
- Appraisal Retype
- Appraisal Review (3rd party appraiser)
- Attorney Retained by Borrower Fee for File Review
- Credit Report Fee
- Credit Alert (CAVIR)
- Document Stamps
- Engineer’s Report (if not required by Lender)
- Escrow Repairs (Rehab. amounts)
- Flood Certification (if part of survey fee)
- Flood Determination/Inspection (initial determination)
- Flood Insurance
- Gap Check Fee (title)
- HOA Cert (Requested by title company)
- HOA Dues
- HOA Transfer Fee
- Home Inspection
- Insurance Reimbursement
- Intangible Tax
- Interest Collected for Old Loan Pay-Off In Refinance
- MIP Refund
- Modification Filing Fee
- Notary Fees
- Points – Paid by Seller
- Recertification Fee (To Appraiser)
- Recording Fee/Filing Fee
- Redraw Fee for doc prep lawyer
- Restriction Fees (To Title Company)
- Revenue Stamps
- Survey Fee
- State Tax Stamps
- Statement of Ownership and Location (SOL) Application
- Tax Certificate
- Tax Deletion (To Title Company)
- Tax Research Fee (4506-T)
- Tax Service Fee – Initial examination
- Tax Transfer Fee
- Tax Transcript Fee (4506-T)
- Termite/Pest Inspection
- Title Binder
- Title Guaranty Fee
- Title Endorsements
- Title Inspection (To Title Company)
- Title Insurance (Lenders or Owners)
- Title Opinion/Policy (To Title Company)
- Transfer Tax
- Verifications – Cost of verifying or confirming info re: non APR item
