This type of can cost you all hangs exclusively on your own place and are perhaps not controlled by the bank

Ton Determination/Lifetime of Mortgage Coverage $31 This cost goes to determining whether or not your property is located in a federally designated flood zone. If the property is found to be located within a flood zone, you will need to buy flood insurance.

Courier Payment ($30). This covers the cost of transporting documents to complete the loan transaction as quickly as possible to avoid paying additional interest on your mortgage loan.

Term Insurance Varies depending amount borrowed. This covers the costs of assuring the lender that you own the home and the lenders mortgage is a valid lien. This is an insurance policy protecting you in the event someone challenges your ownership of the home.

Homeowners insurance (Varies $three hundred or more) Homeowners Insurance is required to cover possible damages to your home. In the event of a fire or other damage, homeowners will receive this insurance to cover the costs of rebuilding. Your first years insurance is often paid at closing. Read the rest of this entry »