Residential Closing Fees – Borrower Refinance
Orleans Title has decades of experience in residential closings, offering our clients kid glove treatment and a full range of high quality transactional and title services. To help our residential real estate clients better understand the costs associated with their closings, we have established fee schedules for borrowers who are refinancing that are applicable for residential properties only and represent a typical closing.
Please contact Stacey Martinez at 504.582.1251 if you would like a transaction specific quote.
Borrower’s Fees – Refinance
|Express Mail-Courier Fee||$45.00 *|
|Incoming-Outgoing Wire Fees||$25.00 *|
|Closing Protection Letter||$25.00|
|Title Insurance-Lender’s Policy||See Title Insurance Rates ****|
|Title Insurance-Owner’s Policy||See Title Insurance Rates ****|
|Flood Elevation-If Required||$275.00 ***|
|Survey-If Required||$600.00 – $750.00 ***|
|Cost of Recordation-Mortgage||Actual cost dependent on Parish|
|Cost of Recordation-Release||Actual cost dependent on Parish|
|Documentary Transaction Tax||$325.00 **|
|Payoff Processing Fee||$175.00 *|
|Recording Services Fee||$200.00|
Note: The abstract fee will be waived if the previous transaction on the property was handled by Orleans Title Insurance Agency, L.L.C.
*Per occurrence **Orleans Parish only ***Estimate only – Actual costs will be charged ****Covers base title insurance rate only; does not reflect any endorsements required by lenders or requested by purchasers.
Additional fees may be required if the mortgage is FHA or VA insured or if the property is not located in a subdivision. These fees do not include lender’s fees, property tax, curative work, or insurance costs.
The rates for title insurance are regulated by the Department of Insurance. Therefore, title insurance rates are consistent throughout the state. However, your lender may require endorsements, which are also regulated by the Department of Insurance and may not be anticipated until the lender’s closing instructions are received.
Closing Funds and Costs in Excess of $2,500
Louisiana law requires amounts owed at closing in excess of $2,500.00 be satisfied with a cashier’s check or wire.
Stacey Zimmer Martinez
Orleans Title Insurance Agency, L.L.C.
201 St. Charles Avenue
New Orleans, Louisiana 70170