What do I pay for to get a mortgage?
Cynthia E. Brodrick

It's not cheap borrowing this much money, but it's impossible to give you an exact figure. The costs of getting a mortgage vary -- though not too widely -- all over the country because different states and counties have different laws. Whatever they are, the fees should be standard in an area. If you are moving to a new county or state, you might want to ask your real estate agent what to expect there.

Before the closing, you'll probably pay for:

• An application fee (actually a deposit on other payments below; this fee is not permitted in some states)

• Credit report(s)

• Appraisal

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Most of the money passes hands at the closing. Here, you'll be paying for some or all of the following, depending on your area:

• Closing fee (for the title company or other entity handling the closing)

• Document preparation fee

• Processing fee

• Underwriting fee

• County transfer fee

• Government fees

Two costs (also paid at the closing) are dependent upon the amount borrowed:

• Origination costs (this is the mortgage broker's profit)

• Discount points (if you used them to "buy" a lower mortgage rate)

Now that you've gotten your mortgage, you have to pay it off. But that's a whole 'nother story.

-- Posted: Aug. 26, 1999