Generated by the purchase of a package of settlement costs must be called " honest lenders cost estimates " (lenders Good Faith Estimate) clearly articulated in the form for you , provided by the mortgage lenders . Time is before you get the loan approval . So you should pay the sales contract is signed before they know its cost .

Requirements include:
Loan company fee : Often referred to as loan fees , means loan companies to charge you for the assessment, preparation and submission of mortgages percentage number.

Application Fee: The fee means lenders to charge you for data processing loan lenders offset the costs . Application fee may be required to pay in advance , ie when applying for loans .

Valuation fee: U.S. housing loans must for any bank must be valued . Professional appraisers to residential site visits to ensure that housing meet the standards , the value equivalent to the sale price . Lenders valuation company responsible for this work , and you need to pay the valuation fee , sometimes require advance payment . ( Typically about 300-400 U.S. dollars )

Credit Report Fee : In some cases , the lender is necessary to verify your credit. You have to pay the resulting costs ( through the U.S. system ) . For Chinese buyers , due to China if there is no proper system monitoring credit , then this cost is not required to pay money . ( Less than $ 100 )

Property rights investigation and security: an investigation on the history of property rights in order to ensure a clear historical record , was able to sell real estate , you need to pay is the cost . This will help you buy a house with legal protection. ( Charges ranging )

Site inspection fee: property rights to real estate security company will conduct a survey of the scene . This is intended to produce legal property boundaries of the text in order to record the loan . ( 200-400 dollars )

Attorneys' fees : This fee is not necessarily borne by you , the buyer's attorney fees are usually assumed by the lending institutions .

Discount Points (discount points): a discount point is equal to total loans borrowed by one percent . For example , if your loan amount is $ 300,000 , and that Mo a discount point is $ 3,000 .

Discount points are in addition to total loans lenders other than the cost of the overpayment . Discount points paid to lenders of more interest rate will be lower . For example, the 30-year loan term loan , if payment of a discount point , you can reduce the interest rate of the loan eighths of a percentage point . Discount points is not required to pay fees , usually at a high interest rate lending institutions , people in this way to reduce interest rates , thus reducing the monthly payment .

These charges fees amplitude variation is not great. " Honest lenders cost estimates " can help you advance understanding of the costs