Closing Costs for Oakland Property
Hi BP,
Currently speculating the closing costs on my first property in Oakland CA as they seem a bit high and want to make sure I am not being jipped lol. Below is the break down I got, all feedback is welcome!
Credit Score: 740+
Purchase Price: $550,000
LOAN COSTS
A. Origination Charges: $2,154.95
> 0.222% of Loan Amount (Points): $1,159.95
> Loan Origination Fee: $ 995.00
B. Services Borrower did not shop for: $498.11
> Appraisal: $475.00
> Credit Report: $23.11
C. Service Borrower did shop for: $2,689.00
> Title Recording Fee: $ 25.00
> Title Settlement/Closing Fee: $1640.00
> Title Signing fee: $175.00
> Title Endorsement Fee: $25.00
> Title Insurance Fee: $824.00
> Title Processing Fee: 00.00
Total Loan Costs: $5342.06
OTHER COSTS
E. Taxes and Other Gov. Fees: $4,269
> Recording Fee: $ $144.00
> City Tax: $4,125.00
F. Prepaids: $2,621.68
G. Initial Escrow Payment @ Closing: $1,986.88
H. Other: $1,626.00
> Title - Owners Title Insurance Policy Fee: $1,626.00
TOTAL OTHER COSTS: $10,503.56
TOTAL CLOSING COSTS (LOAN COSTS + OTHER COSTS): $15,845.62 <<<
Thanks in advance,
Adrian