The Closing Costs We Pay (& Those We Don’t Pay)
A loan with DNJ Gateway Mortgage will have no hidden costs or fees. We understand that you may only do 2 or 3 mortgage loan transactions in your lifetime, so we’re committed to helping you understand all aspects of your loan transaction. Our experienced loan officers will answer your questions and review your options with you. Below we show you in detail the costs we pay and those other charges that we do not pay.
The Money You May Bring to Closing Can be Put Into Four Categories:
- Mortgage loan closing costs
- Pre-paid items
- Third party services paid at closing
- Down payment
Read below to learn more about each category. On this list only the mortgage loan closing costs are a cost to you, and with our No Cost loan we pay them.
Mortgage Loan Closing Costs (As They Would Be With a No Cost Loan):
| HUD# | Closing Costs | Amount |
| 801 | Loan origination fee | $0.00 |
| 802 | Loan discount fee | $0.00 |
| 803 | Appraisal fee | $0.00 |
| 804 | Credit report | $0.00 |
| 808 | Lender processing fee | $0.00 |
| 806 | Tax service | $0.00 |
| 809 | Application fee | $0.00 |
| 807 | Flood report fee | $0.00 |
| 810 | Wire transfer | $0.00 |
| 1102 | Closing fee | $0.00 |
| 1103 | Lender’s title policy | $0.00 |
| 1109 | Document preparation fee | $0.00 |
| 1107 | Attorney’s fee | $0.00 |
| 1201 | Recording fees | $0.00 |
| 1202 | City/county tax stamps | $0.00 |
| TOTAL CLOSING COSTS | $0.00 |
Pre-Paid Items
Pre-paid items are the interest from the day you start your new loan until the end of the month, plus the money that is put into your escrow account.
An escrow account is the money held by the mortgage company to pay your yearly property taxes and insurance premiums. Your monthly payment includes an amount which is placed in this fund. This amount is adjusted on a regular basis as your taxes and insurance increase.
Third Party Services Paid at Closing
A refinance will rarely have third party fees but they are common on a home purchase. Third party service fees often include but are not limited to:
Home inspection- Termite inspection
- Radon inspection
- HVAC inspection
- Survey
- Wells or septic inspection
- HOA transfer and initiation
- First time home buyer counseling
- Mortgage credit certificate
Down Payment
On a home purchase you will bring the required down payment. Your earnest money will be refunded to you at closing.
Apply Today For Your No Cost Loan!
Interested in DNJ’s No Cost mortgage options? Apply today or call us to learn more!
With loan offices in Raleigh, Greenville, and Wilmington, we work with homeowners and home buyers across the Southeast. DNJ offers mortgages in North Carolina, South Carolina, Virginia, Maryland, Georgia and Florida.
