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Costs Associated with The Purchase of Your Home
As the Purchaser you may be responsible for the following costs:
| Attorney's Fees | $400-$700 |
| Property Inspection | $250-$400 |
| Lead Paint Inspection (optional) | $200-$350 |
| City of Chicago Transfer Tax (Stamps) | $7.50 per $1000 of purchase price. |
| Settlement or Escrow Closing Fee | $175 up to $100,000 plus $0.50 |
| Paid to title company to handle closing for every additional $1,000. |
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| Costs Associated with Lender | |
| Loan Application (& Appraisal) | $250-$400 |
| Closing Points or Loan Origination Fee | 1-3% of Loan (optional) |
| Private Mortgage Insurance | Required if loan is less than 80% of purchase price. |
| Underwriting Fee | $250-$500 |
| Document Preparation or Recording Fee | $100-$150 |
| Flood Certification Fee | $20-$40 |
| Lender's Title Insurance Policy | $150-$400 |
| Tax Service Fee (if held in escrow) | $50-$100 |
| Reserve Fund for Tax Escrow | 2-7 months pre-paid real estate taxes |
| (may be received as credit from seller). |