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