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Estimated Closing Costs In The Eugene Oregon Area

Estimates are based on a $100,000 purchase price with a $95,000 mortgage with an imaginary settlement date of the 31st of any month.


Common Disbursements

Lender Appraisal Fee           $300.00
Credit Report         16.00
Title Policy fee (lender policy only - owner's policy is discretionary)     250.00
Endorsement & Flood Certification Fees           85.00
Recording Fees     110.00
Tax Service Fee to Lender           75.00
Processing Fee   250.00
Loan Documents   150.00
Underwriting   250.00
          Sub-total   $1,486.00
Other Fees If your down payment is less than 20% of the purchase price of the property, the mortgage will require private or government mortgage insurance depending on the type of loan. On government secured loans this will result in an additional out-of-pocket expense of 1.50% of the mortgage which is typically financed into the mortgage. Note: There is also a monthly insurance premium, which is added to the mortgage payment. This premium ranges from .32% of the mortgage value to .1.04% depending on the size of down payment. $ Varies
Property Tax Proration - Because property tax billing is a minimum of 6 months in arrears you will actually receive a credit at closing for taxes owed, but not yet billed. Assuming 10 months this will reduce your cash requirements at closing by about; yearly/12x10 $ Varies  
Mortgage Insurance Proration - Between the date of closing and, typically, the first of the next month you will be required to pay interest for the number of days left in the month of closing. Assume loan amount x rate/365x15. $ Varies
Home Owner's Insurance - You will have to arrange for property insurance and pre-pay a one year policy prior to closing. The annual rate for a basic policy is approximately the sale price x 2.5% $ Varies
Escrow Account - If you use an escrow account to pay your taxes and insurance bills when they come due your monthly mortgage payments will include a portion for maintaining this escrow account. You will also have to fund the initial establishment of the account. Assume $1.50 per $1,000 of sale price + $85.00 $ Varies
Other - If you agreed to pay "points" to improve your payment terms you will have $95,000 x (the points agreed) to due at closing $400.00

*These figures are an estimate only as each loan program varies as to charges. They are subject to change and it is recommended that you consult your lawyer for confirmation of your total costs.