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The following will give you an idea of some of the fees the borrower might see on their HUD settlement statement that they would pay to us at the time of closing. They should only be used as a guide, NOT as final figures. Every loan is different and depending on what you have agreed upon with your borrower they could vary from the following. Also, our fees are subject to change due to market changes, supplier increases, tax increases, or other factors beyond our control.
Attorney/Title Exam Fee
The attorney/title examination fee varies depending on the location of the property, the lender, and the title examiner but is generally between $500.00 and $600.00.
Other Fees
Deed Preparation
$120.00
POA Preparation
$ 90.00
Overnight Package
$ 30.00
Overnight Payoff
$20.00
Discharge Preparation
50.00
Mortgage Inspection/Plot Plan (if required)
$150.00 - $200.00 |
Massachusetts
Deed
$125.00
Mortgage
$175.00
Discharge
$75.00
POA
$75.00
Assignment
$75.00
Subordination
$75.00
Municipal Lien Certificate (MLC)
$65.00
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New Hampshire
Deed
$17.39
Mortgage
$88.85
Discharge
$22.39
POA
$12.39
Assignment
$12.39
Subordination
$12.39 |
State Tax Stamps
Massachusetts
Tax stamps are charged at the time of closing and cost $4.56 per thousand of the purchase price. They are paid entirely by the seller (for example: on a purchase price of $227,500.00 the total tax stamp due is $1037.40.) |
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New Hampshire
Tax stamps are charged at the time of closing and cost $15.00 per thousand of the purchase price. They are split between the buyer and the seller (for example: on a purchase price of $227,500.00 the total tax stamp due is $3412.50 with the buyer and the seller each paying $1706.25 at the time of closing.) |
Property Taxes
Any tax bill that is outstanding will be collected at the time of closing. If a tax bill is due within 60 days of the closing this will also be collected. For purchases a tax pro-ration is done at the time of closing. There are many variables that will affect the amount of this pro-ration and who it is being paid to including: (a) the date of the closing (b) when the tax bill was paid on the subject property and (c) what dates that tax period covers. For example:
- Closing date: September 15
- Taxes paid on: July 1st
- Total Taxes for the year: $3500
- Property in Salem, NH
- July tax bill covers April 1 thru September 30
The buyer owes the seller for 15 days of taxes towards the July bill that they paid. The per diem amount on $3500.00 at 365 days a year is $9.59; therefore the buyer would be charged $143.85 at the time of closing and this would be given back to the seller. For more information, contact the tax collector for the town to determine how much the annual taxes are and what dates the tax period covers or for general information about taxes refer to the tax information page on this website.
Condominiums
Any condominium fees that are outstanding will be due at the time of closing. For purchases, condominium pro-rations will done. The amount of the pro-ration is dependent on the date the last condo fee was paid, what dates that condo fee covered, and the date of the closing (for example: with a closing date of September 15th where the seller paid a $200.00 condo fee for September on September 1 the seller would be given back 15 days worth of condo fees at the day of closing from the buyer ($100.05).
**NOTE: ALL FEES QUOTED ON THIS WEBSITE ARE SUBJECT TO CHANGE WITHOUT NOTICE, ESPECIALLY THE RECORDING FEES, AND ARE PROVIDED FOR INFORMATIONAL PURPOSES ONLY TO GIVE YOU AN IDEA OF WHAT CLOSING COSTS COULD BE.
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