Settlement Costs Closing Costs | Pre Paid Items | Title Costs | APR

Loan Origination Fee – This is the fee charged by the lender for their services on the loan. It can range anywhere from 0% to 4% depending on the type of loan, program that you choose. This fee can be tax deductible however you would need to consult a tax preparer.

Loan Discount – This is the price (normally listed as a percentage of the Loan) that is used to buy down the rate that is below the Lenders Market Rate.

Appraisal Fee – This shows the amount you paid for the appraisal. If beside the amount it says POC, this means it was paid outside of closing and that it is not included in the amount of closing costs. If there is a dollar amount listed on the settlement statement without POC beside it, then it is the amount that is being paid for the appraisal.

Processing Fee – This is the cost to process your loan.

Underwriting Fee – This is the cost for underwriting the loan from a lender.

Admin Fee – This is the administration fee for the loan it covers extra costs like paper work faxes, fed ex, ordering verifications of employment & your mortgage history.
(Some companies will break out all costs associated in this section.)

Flood Cert –Lenders require proof that your home is not in a flood zone. This fee covers the cost of the report that is pulled for verification.