Explore the Mortgage101 Library
Check Local Mortgage Rates
Loan Program Choices
Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator
There are a lot fees associated with mortgages such as mortgage title fees. Whenever you are purchasing or selling a property, mortgage title fees will assessed. Mortgage title fees are more commonly known as closing cost. Closing costs are assessed as part of the financial transaction. There is a variety of costs that can be covered under title fees.
The title policy identifies covers the seller by providing a clean title to the purchaser. It also protects the buyer from any debt or liens associated with the property.
Recording fees is the cost associated with filing the new title with the new owner’s information and showing the transfer of property at the local clerk’s office.
Any official documentation to be filed requires notarization. The notarization verifies that all parties are in agreeance, have signed the paperwork, and that a party with no interest in the transaction has witnessed it.
Before a title can be transferred, the title company must provide a statement verifying that the taxes have been paid on the property. The title company also makes the buyer aware of any taxes he or she may owe. The company can charge a fee for research and providing this information.
- Short Selling a Rental Property
- 3 Reasons Banks Reject Short Sales
- How to Get Approved for an FHA Loan despite Bad Credit
- Home Equity Loans for People with Bad Credit
- Appraisal Basics
- Should You Refinance? Make Sure the Timing is Right
- Second Mortgages: Advantages and Disadvantages
- Low Down Payment Loan Qualification
- 3 Warning Signs of Loan Modification Scams