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SETTLEMENT COSTS (DC CLOSINGS ONLY)

Estimated Costs

Clients may be entitled to certain discounts on their next settlement. Items marked with a red $ may qualify for a discount. A Settlement Sheet is divided into several categories as follows:

  • Lender Items to Borrower may include:
    • "Points" 1 point =1% of loan amount
    • Appraisal/Application Fees
    • Credit Report Fees
    • Document Preparation Fees
    • Underwriting Fees
    • Flood Certification Fees
    • Tax Service Fees
    • Processing Fees
    • Interest Rate Lock-In Fee

  • Lender Prepaids:
    • Real Estate Tax Escrows
    • Hazard Insurance Escrows
    • Interim Interest

  • Title Items:




    Seller's Fees
    Settlement Fee $468.75

    • Payoffs Release Tracking     $35 each
    • Title Clearance (if necessary)     $110-210/hour

  • District of Columbia Fees
      Borrower Seller
    DC Transfer Tax (based on purchase price < $400,000)*   1.1 %
    DC Transfer Tax (based on purchase price >= $400,000)*   1.45 %
    DC Recordation Tax (based on purchase price < $400,000)* 1.1 %  
    DC Recordation Tax (based on purchase price >= $400,000)* 1.45 %  
    DC Recording Fees
    Deed
    $31.50
    Deed of Trust
    $156.50
    Releases / Power of Attorney
    $40.50
    *Variances may occur after application of first time homebuyer,
    low-income homebuyer, and other tax abatements

  • Miscellaneous fees if applicable:
      Borrower Seller
    Survey $250 N/A
    Termite Inspection $65 $65
    Additional Wire/Courier/Overnight $35 $35
    E-Storage Fee $45  
    Power of Attorney $150 $150
  • District of Columbia First-Time and Lower Income Homebuyer Programs:
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