CLOSING COST ESTIMATE FOR BUYING A HOME IN
FREDERICK COUNTY, MARYLAND
The information below shows ESTIMATED CLOSING COSTS for a home priced at $500,000.
CLOSING COSTS ESTIMATE FOR HOME BUYERS
Price ________________________________ $500,000
Loan Type - Conventional 5% Down
Interest Rate - 6% (including mortgage insurance)
Estimated Real Estate Taxes $ 3,500
1. LOAN RELATED FEES
Appraisal Fee _________________________ $ 400
Credit Report Fee ______________________ 60
Misc. Lender Fees _____________________ 500
2. PREPAIDS OR ESCROW ITEMS
Prepaid Interest (2 days Per Diem) ________ $ 190
Hazard Insurance (1 year) _______________ 450
Hazard Insurance Escrow 2 days _________ 75
Prepaid RE Taxes (8 months) ____________ 2,333
3. TITLE CHARGES Settlement Fee (legal) 500
Title Insurance ($4.00 per $1,000) ________ 2,000
4. GOVERNMENT RECORDING AND TRANSFER FEES
Recording Fees ________________________ 150
State Transfer Tax _____________________ 1,250 (Seller paid $1,250)
Recordation Tax _______________________ 2,500 (Seller paid $2,500)
5. ADDITIONAL SETTLEMENT FEES
Survey_______________________________ 400
Pest Inspection ________________________ 50
Misc. _________________________________
6. TOTAL CLOSING COSTS (1 through 5) _________________________ $10,813
7. DOWN PAYMENT __________________________________________ 25,000
8. TOTAL MONEY NEED TO BUY (6 & 7) __________________________ $35,813
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ESTIMATED MONTHLY PAYMENT
Principal & Interest @ 6% $ 2,848
1 Month RE Taxes
292
1 Month Hazard Insurance 38
MONTHLY PAYMENTS $ 3,178
Additional monthly expenses could include Home Owner Association Fees The above figures are for estimating purposes only. Expenses may change depending on credit score, down payment, interest rate, etc. Our Homefinders.com agent will do a detailed Closing Cost Estimate for you for the home you select to buy.
Frederick County Real Estate
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