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Learning Center

Closing Costs

In addition to the down payment, you will be responsible for paying certain average mortgage closing costs in order to complete the mortgage transaction. Average mortgage closing costs range from 3% to 6% of a home’s purchase price.

Average mortgage closing costs may include:

• Agent Commissions
• Appraisal Fee
• Credit Report Fee
• Flood Certificate Fee
• Origination Fee
• Points
• Prepaid Homeowner’s Insurance Premiums
• Private Mortgage Insurance Premiums
• Processing Fee
• Recording Fee
• Tax Adjustments
• Tax Service Fee
• Title Search and Insurance
• Underwriting Fee

Newsletters

• Mind Your Money
  Monthly newsletter regarding family money matters.
• HomeLine
  Monthly newsletter offers helpful advice and interesting news about your home.
• Economic Update
  Weekly newsletter keeping you in the loop about economic news affecting the real estate industry.

Pre-qualification List

• Find out what documentation you will need when you apply for a pre-approval.

Loan inquiries and applications in states where I am not licensed will be referred to a Loan Officer who is licensed in the property state. Equal Housing Lender. Prospect Mortgage is located at 15301 Ventura Blvd., Suite D300, Sherman Oaks, CA 91403. Prospect Mortgage, LLC (Unique Identifier #3296) is a Delaware limited liability company licensed by the Department of Corporations under the California Residential Mortgage Lending Act and operates with the following licenses: AK Mortgage Lender/Broker License #AK3296; AZ Mortgage Banker License #BK0903027; To check the license status of your CO mortgage broker, visit www.dora.state.co.us/real-estate/index.htm; GA Residential Mortgage License #16984; IL Residential Mortgage Licensee #6424; MA Mortgage Lender/Broker License #MC3296; MS Licensed Mortgage Co.; MT Residential Mortgage Lender Licensee #120; Licensed by the NH Banking Dept.; Licensed Banker-NJ Dept. of Banking and Insurance #9932414; NV Division of Mortgage Lending Mortgage Banker #1173 and Mortgage Broker #3095; Operates as Prospect Lending, LLC in NY (Licensed Mortgage Banker-New York State Department of Banking); OR Mortgage Lender Licensee #ML-2006; PA Dept. of Banking license #22122; RI Licensed Lender #20021343LL, Loan Broker #20041643LB; licensed by the VA State Corp. Commission as MC-2195. This is not an offer for extension of credit or a commitment to lend. All loans must satisfy company underwriting guidelines. Information and pricing are subject to change at any time and without notice. This is not an offer to enter into a rate lock agreement under MN law, or any other applicable law. Prospect Mortgage, LLC - NMLS Consumer Access | Texas Mortgage Banker Loan Origination Disclosure