mortgage

Michigan closing costs

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Loan amount: $200,000

Michigan closing costs

Overview
Average origination fees charged by lenders$1,072
Average third-party fees$746
Average origination plus third-party fees$1,818
Itemized fee averages
Below are listed the averages for fees. Added up, they do not equal the averages listed above. That's because each lender charges for some of the fees listed below, but not all.
Origination fees charged by the lender
Document preparation$80
Broker, originator or lender$1,123
Tax service$76
Third-party fees
Appraisal$417
Attorney, closing or settlement$450
Credit report$21
Flood certification$10
Inspections (pest, etc.)$125
Postage/courier$100
Survey$347

Bankrate.com surveyed up to 10 lenders in each state in June 2015 and obtained online Good Faith Estimates for a $200,000 mortgage to buy a single-family home with a 20 percent down payment in a prominent city. Costs include fees charged by lenders, as well as third-party fees for services such as appraisals and credit reports. The survey excludes title insurance, title search, taxes, property insurance, association fees, interest and other prepaid items.

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