Closing Costs

Ever been confused or surprised by closing costs? With Regency Mortgage, that will never happen again.

Below, you’ll find a straightforward example of our closing costs. In each section, you’ll find notes to help you adapt the costs for different loan situations. It’s an estimate, but based on our years of experience, it’s a very accurate one.

Once we have your mortgage application, and you select a property to buy, we’ll provide you with an updated version to more accurately document your closing costs.

This example is based on a New Hampshire single family residence (click here for Maine, Massachusetts, Vermont, or Florida). It assumes a price of $250,000, with a $200,000 loan at 6.75% APR, and a 30-year fixed rate with no points. It doesn’t apply to FHA, VA, or non-conventional loans, so please ask one of our Mortgage Planners to receive a “Itemized Fees Worksheet” for those types of loan applications.

Regency Mortgage Fees

Application Deposit

When your loan closes, your application deposit is credited back to you. And if your loan doesn’t close, we refund the unused portion of your deposit to you.

Item Amount
Single family, full loan application $450
2-4 units, full loan application $600

Origination Fees

Many mortgage brokers and lenders charge an origination fee. At Regency Mortgage origination fees are rarely charged. When it does happen, it’s a pricing and/or accounting requirement from the servicing lender.

Discount Points

Discount points are determined by the interest rate and terms you choose. Typically, for every 1/2 point you pay at closing, your interest rate is discounted by approximately .125% – .250%.

Lender Fees

Certain fees are required to be disclosed as an Origination Fee. This charge is made up of the following fees: processing fee, underwriting fee, documentation perperation fee, bankwire fee, and courier fee.

Item Amount
Origination Charge $995


Third Party Fees

Certain fees are collected by Regency Mortgage on behalf of the service providers which will be itemized on your HUD1 Settlement Statement at closing.

Item Amount
Appraisal Fee (est. single family residence. A 2-4 unit property is $600) $455
Credit Report Fee $66

Attorney Fees

For your convenience, Regency Mortgage works with numerous title companies and attorneys. We work hard to keep these fees extremely competitive.

Item Amount
Settlement or Closing Fees (est.) $675
Lenders Title Insurance $400

Government Fees

These fees are set by various government entities, and are applicable to all loans.

Item Amount
Recording Fee (est.) $165
Transfer Tax (est.) – NH @ $7.50 per $1000 on purchase price. (ME @ $2.20 per $1000 on purchase price.) $1875

Estimated Prepaid Items

Though you pay these at closing, these items aren’t actual “closing costs.” Lenders require that you pay for such things as interest accrued on your loan between the closing and your first loan statement; real estate tax and homeowners’ insurance escrows; and mortgage insurance escrows, if required.

Item Amount
Per diem interest (est. @ 15 days) $562.50
Mortgage Insurance Escrow (est.) $0
Homeowners Insurance Escrow (est.) $120
Real Estate Tax Escrow (est.@#200/yr.) $2240