Closing Costs, Information Center
Recurring Closing Costs versus Non-Recurring Closing Costs
December 25, 2008 by Mortgage Align · Leave a Comment
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
