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Updated over 7 years ago,

User Stats

46
Posts
14
Votes
Bo S.
  • Seattle, WA
14
Votes |
46
Posts

Buying Condo in Seattle - First Home questions

Bo S.
  • Seattle, WA
Posted

Yay! My offer was accepted on a condo in Seattle. Now comes the not so fun part of dealing with the loan, closing costs, and being in debt for most of my adult life. I'm doing 5% down conventional loan ($310k sales price) and so far my lender is telling me a 4.125 rate for both 30yr and 20yr fixed. We're doing a quick 3 week close and things are moving fast. Looking at all the fees and costs, I'm concerned if I should have shopped around for a lender. My total closing costs is ~9k and below is some of the breakdown. Please let me know your thoughts. Thanks in advance!

Section A.

Origination Charges $1,095.00

Section B. Services You Cannot Shop For

01 Appraisal Fee $750.00
02 Condo Questionnaire Fee $285.00
03 Credit Report Fee $14.00
04 Flood Certification $8.00
05 Tax Service Fee $92.00

Section C. Services You Can Shop For
01 Pre-Purchase Counseling Fee $75.00
02 Title - Closing/Settlement/Attorney Fee $814.74
03 Title - Courier fee $50.00
04 Title - Lender Title Insurance $1,959.78
05 Title - Mobile Notary Fee $125.00

Section E. Taxes and Other Government Fees
01 Recording Fees and Other Taxes $198.00

Section F. Prepaids 
01 Homeowner’s Insurance Premium (12 months) $240.00
02 Mortgage Insurance Premium ( months)
03 Prepaid Interest ($33.74 per day for 23 days @ 4.125%) $776.02

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