Closing Costs

Recurring Closing Costs versus Non-Recurring Closing Costs

Non-Recurring Closing Costs

Non-recurring closing costs are simply the fees that are paid once.  These fees are one-time charges:

•    Title Policies
•    Escrow or closing
•    Notary
•    Wire fees
•    Courier / Delivery
•    Attorney fees
•    Endorsements
•    Recording
•    State, County or City Transfer Taxes
•    Home Protection Plans
•    Natural Hazard Disclosures
•    Home Inspection
•    Lender fees paid in conjunction with the loan on the HUD-1, line 800.

Recurring Closings Costs – The Prepaids

Recurring fees are paid throughout your loan, which deal primarily with taxes, insurance and interest. They include:
•    Fire Insurance Premium
•    Flood Insurance (if required in your area)
•    Property Taxes
•    Mutual or Private Mortgage Insurance Premiums
•    Prepaid Interest