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2340 E. Bidwell Street
Folsom, CA  95630

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Listed below are some typical closing costs you may incur as part of your loan transaction. When applying for a loan, you will receive a Good Faith Estimate of closing costs and settlement charges, and a booklet that will explain these costs.

Appraisal Fee:
This is a one-time fee that pays for an appraisal. An independent fee appraiser makes the appraisal.

Credit Report Fee:
A one-time fee that covers the cost of the credit report.

Document Preparation Fee:
There may be a separate fee that covers the preparation of the final legal papers.

Loan Discount:
A one-time fee used to adjust the yield on the loan to what market conditions demand. It is often called "points".

Loan Origination Fee:
The lender's administrative costs in processing the loan are covered by this fee.

Miscellaneous Title Charges:
The title company may charge fees for a title search, title examination, document preparation, recording fees, a settlement or closing fee and notary fees.

PMI Premium:
You might be required to pay an up front fee for mortgage insurance, depending on the amount of your down payment. Lenders may also require monies be places into a reserve account held by them.

Prepaid Interest:
Depending on the time of month your loan closes, this per diem charge may vary from a full month's interest to that of a few days. If your loan closes at the end of the month, you will have to pay interest only for a day or so.

Taxes and Hazard Insurance:
You may be required to reimburse the seller for property taxes, depending on the month in which you close. You will also need to pay a year's hazard insurance premium up front. Also, you might be required to put a certain amount for taxes and insurance into a special reserve account held by the lender.

Note: Information provided compliments of Placer Title Company.