When will I be expected to pay fees?

There are three possible fees that you may need to pay before closing. We will not charge any fees until after we have sent you disclosures and you have provided intent to proceed.

  1. Appraisal fee
    • The vast majority of borrowers need to pay a third-party appraisal fee.
    • The amount is $500.
    • This fee will be charged around the time you lock your rate.
    • The only time the appraisal fee is not required is in some refinance situations, if the investor allows a Property Inspection Waiver (PIW). The PIW fee is typically around $175.

All other fees will be paid at closing. We’ll send you a loan estimate within 3 days of submitting your application that lists the expected fees. And at least 3 days prior to closing we’ll send you a final closing disclosure that includes the exact breakdown of your closing costs.