Negotiable Closing Costs

Loan Origination Fee
Most Loan Officers earn commission income. Sometimes their commission income is listed as Loan Origination Fee. Othertimes the Loan Origintion Fee represents administrative expenses in setting-up and processing the loan. Bottonline - this is a closing cost item that can be negotiated, most ot the time this fee should be minimal.

Points
The loan's interest rate can be lowered by paying points. Each point equals 1 percent of the mortgage amount. For example: on a $450,000 loan, 1 point would equal $4,500. The buydown formula is unique to the Lender, but as a rule of thumb, if you pay 1/2 point you lower the interest rate by 1/8%. For example: if the rate was 6.25% + 0 pts, it could be lowered to 6.125% + 1/2 pts or 6.000% + 1 pts. A breakeven analysis helps you decide whether it makes economic sense to pay points. We can provide this analysis.

Appraisal Fee
The fee for having the house appraised. The fee is usually collected by the appraiser when he visits the property. The fee is dependent upon the property's value. For example, the appraisal fee on a $450,000 property may cost $300 whereas the appriasal fee on a $1,000,000 property may cost $400. If you qualify for our Streamline Financiang, then Capstone Mortgage Company will refund this fee at the closing table.

Credit Report
The fee for accessing your credit report. The fee (approximately $25) is paid when the loan application is submitted. If you qualify for our Streamline Financing, then Capstone Mortgage Company will refund this fee at the closing table.

Processing and Underwriting Fees
A Lender will charge fees to process and underwrite your loan. These fees include, but may not be limited to Document Preparation Fee, Commitment Fee Fee, Quality Control Fee, Tax Service Fee, Processing Fee, Underwriting Fee, etc. At the end of the day, these fees can total several hundered dollars ($400 to $1000). If you qualify for our Streamline Financing, then Capstone Mortgage Company will refund this fee at the closing table.

Closing Attorney Fees
A Closing Attorney will charge fees to represent your interests. These fees include, but may not be limited to, Title Search, Legal Representation, Title Insurance, Copying Charges, and O/N Mail. All of these fees are negotiable. We recommend that you request for an itemized list of these fees prior to hiring your attorney.