Closing Fees:

NEW FEE SHEET – RESIDENTIAL CLOSINGS
USING THE NEW GFE HUD-1 FOR 2010

Settlement Fee: $445.00 – This amount covers all the traditional fees associated with closing a loan such as Attorney’s Fees, Title Exam, Courier, etc.

USE THESE FIGURES WHEN COMPLETING THE NEW GFE
For a shortcut-you can request a title insurance calculator from me. 
Microsoft excel required.

GFE Line Item 4

Purchase:  $445.00 + lender’s title insurance. When owner’s title is purchased lenders title is $100.00 in addition to the owner’s title policy amount.  We disclose the full lender’s title amount in Item 4.  Owner’s title is then the amount disclosed below + $100.00 less the amount for lender’s title disclosed in Item 4.

Refinance: $445.00 + lender’s title insurance. (Calculate using below formula)

GFE Line Item 5 - Owner’s Title Insurance  (Calculate using below formula) – See above for amount to disclose as item 5.

GFE Line Item 6 – Recording – We suggest using $60.00 as a safe figure

GFE Line Item 8 - Transfer and Intangible Tax - $1.00/$1000.00 or fraction thereof based on purchase price for transfer tax and $3.00/$1000.00 or fraction thereof for intangible tax based on loan amount.  Note: HUD also states that the $6.50 GRMA fee should be included in this amount.

TITLE INSURANCE RATES

Lender’s Policy Rates: $2.00/$1000 for amounts to $500,000.00

Simultaneous Issue Rates: $100.00 when an Owner’s Title Policy is purchased

Owner’s Policy Rates: $3.50/$1000 for amounts to $500,000.00.  Rate quoted is for an “enhanced” owner’s policy which will be issued for eligible properties.

Please call or e-mail for an immediate binding quote.

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Chalker & Chalker - your Georgia real estate closing attorneys.