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Michigan closing costs

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Michigan closing costs
Origination fees charged by lender$946
Third-party fee$1,013
Taxes$0
Total$1,958
CityDetroit
Loan amount$200,000
 
Itemized origination fees charged by the lender
Origination points$346
Commitment fee$370
Document preparation$58
Broker, originator or lender$842
Processing$1,045
Tax service$77
UnderwritingN/A
 
Itemized third-party fees
Appraisal$457
Attorney, closing or settlement$428
Credit report$25
Flood certification$10
Postage/courier$100
Survey$297
  
Taxes
Borrower's share of state and local transfer taxes and fees$0
Mortgage tax$0
  

Bankrate.com surveyed up to 10 lenders in each state in March and April 2017 and obtained online Loan Estimates for a $200,000 mortgage to buy a single-family home with a 20 percent down payment in a large 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. The itemized average fees do not total to the average fees because the lenders' charges vary. For example, not all lenders charge a document preparation fee.

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