Perhaps one of the biggest concerns that many purchasers and refinancers have is over the costs associated with getting a mortgage. There are several factors that contribute to the amount of closing costs on a mortgage transaction, but the most important factors are the type of property, the purchase price, and the loan amount.

Closing costs are payable to several entities: the lender, the title company, the mortgage broker, the appraisal company, and the state/city (taxes and recording fees).

Every lending institution handles their fees differently; some take fees up-front, and some take fees at closing. Some mortgage brokers may charge you "hidden points" - additional closing fees - in order to quote you an interest rate that is lower than the current market rate. But here at Universal Mortgage, you will only pay a $350 fee at the time of application to cover the basic costs of getting your loan started (data entry, credit report, etc.). There are never any hidden fees and all closing costs are fully disclosed to you from day one.

Please select any of the options on the left-hand side of this page to view the estimated closing costs for a 1-4 family house, co-operative, or condominium mortgage transaction.

If you have any questions at all, please don't hesitate to contact one of our experienced Loan Officers to discuss any additional questions you may have.