Our Fees

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Our Fees2018-09-10T21:07:02+00:00
Homeowner Association Information

Closing Cost Details on the Loan Estimate

The Loan Estimate (Form H-24) is designed to provide disclosures that will be helpful to consumers in understanding the key features, costs, and risks of the mortgage loan for which they are applying. The Loan Estimate must be provided to consumers no later than three business days after they submit a loan application.

Page 1 of the Loan Estimate includes general information, a Loan Terms table with descriptions of applicable information about the loan, a Projected Payments table, a Costs at Closing table, and a link for consumers to obtain more information about loans secured by real property at a website maintained by the Consumer Financial Protection Bureau (CFPB).

Closing Cost Details are disclosed on page 2 of the Loan Estimate. The items associated with the mortgage are broken down into two general types, Loan Costs and Other Costs. Generally, Loan Costs are those costs paid by the consumer to the creditor and third-party providers of services the creditor requires to be obtained by the consumer during the origination of the loan. Other Costs include taxes, governmental recording fees, and certain other payments involved in the real estate closing process. Items that are a component of title insurance or are for conducting the closing must include the introductory description of Title.

Services You Cannot Shop For (Part B) are items provided by persons other than the lender or mortgage broker that the consumer cannot shop for and will pay for at settlement. Items listed as Services You Cannot Shop For must use terminology that describes each item, and disclose them in alphabetical order. These items include fees and charges for products and services (1) for which the lender did not permit the borrower to shop, or (2) for which the borrower selected a provider from the lender’s Settlement Service Provider List (SSPL). In this instance, our fees are:

B. Services You Cannot Shop For $
Tax Certificate $32.96
Title – eRecording Fee $9.74
Title – Lender’s Title Insurance $*
Title – Settlement Agent Fee $225
Title – Texas Title Insurance Guaranty Fee $3

* See current Texas Title Insurance Basic Premium Rates here.

Services You Can Shop For (Part C) are provided by persons other than the lender or mortgage broker and are services that the consumer can shop for and will pay for at settlement. Items listed as Services You Can Shop For must use terminology that describes each item and disclose them in alphabetical order. These items include fees and charges for products and services for which the borrower was allowed to shop and for which the borrower selected a provider not listed on the lender’s Settlement Service Provider List (SSPL). In this instance, our fees are:

C. Services You Can Shop For $
Tax Certificate $32.96
Title – eRecording Fee $9.74
Title – Lender’s Title Insurance $*
Title – Settlement Agent Fee $225
Title – Guaranty Assessment Recoupment Fee $4.50 per policy issued

* See current Texas Title Insurance Basic Premium Rates here.

Under Taxes and Other Government Fees (Part E) is the disclosure of Recording Fees for all documents to be recorded in connection with the transaction. Recording Fees are fees assessed by a government authority to record and index the loan and title documents as required under State law. Recording Fees are:

E. Taxes and Other Government Fees $
Recording Fees $130*

*Estimate based on typical residential resale transaction.

Recording Fees – Hood County, Texas $
First Page $21.00
Each Additional Page $4.00
Each Party After 5 $.25
Two or More Riders Per Page $8.00
Recording Fees – Somervell County, Texas $
First Page $26.00
Each Additional Page $4.00
No Mailing Address Grantee on Document $25.00

Other (Part H) includes items in connection with the transaction that the consumer is likely to pay or has contracted with a person other than the lender or loan originator to pay at closing and of which the lender is aware at the time of issuing the Loan Estimate. Items that disclose any premiums paid for separate insurance, warranty, guarantee, or event-coverage products not required by the lender must include the parenthetical description (optional) at the end of the label. Items listed as Other must use terminology that describes each item, and disclose them in alphabetical order. This section includes all fees and charges that do not appear in another section of the Loan Estimate, including by way of example:

  • All fees and charges related to owner’s title insurance ;
  • Real estate commissions;
  • All fees and charges in connection with a homeowner/property owner association (get homeowner association information here);
  • Fees and charges for any inspections or warranties not required by the lender;
  • Attorney fees for documents not required by the lender (such as curative documents); and
  • Additional payments to the seller to purchase personal property pursuant to a contract of sale.

Even though termed optional in the Loan Estimate, it is advisable for the purchaser (consumer) to request an owner’s policy of title insurance. Required lender’s title insurance coverage protects the lender (and does not protect the purchaser). Title defects or claims by others can be financially devastating to a purchaser who is uninsured. For these reasons, an owner’s policy of title insurance is the safe, sensible solution for the consumer.

H. Other $
Title – Owner’s Title Insurance (optional) $ *
Title – Texas Title Insurance Guaranty Fee $3

*See current Texas Title Insurance Basic Premium Rates here, and Example below

In most cases, a substantial title insurance premium credit can be realized when both an owner’s policy of title insurance and loan (lender’s) policy of title insurance are issued simultaneously (as provided under R-5 of the Texas Basic Manual of Title Insurance).

How are simultaneously issued owner’s policy of title insurance and loan (lender’s) policy of title insurance premiums disclosed on the Loan Estimate?

  • The full Basic Premium Rate for the loan (lender’s) policy of title insurance should be disclosed as a cost to the purchaser/borrower (under either Part B or C of the form, whichever is applicable).
  • The premium for the owner’s policy of title insurance, also shown as a cost to the purchaser/borrower, is calculated by taking the full Basic Premium Rate for the owner’s policy of title insurance, plus the rate for a simultaneously issued loan (lender’s) policy (usually $100), minus the full Basic Premium Rate for the loan (lender’s) policy of title insurance. The result should be reflected under Part H of the form.

Example: If the sales price is $180,000 (Basic Premium Rate = $1,318.00) and the loan amount is $162,000 (Basic Premium Rate = $1,218.00), then the loan (lender’s) policy of title insurance is disclosed as $1,218 (under Part B or C), and the premium for the owner’s policy of title insurance is disclosed as $200 ($1,318.00 + $100.00 = $1,418.00 – $1,218.00 = $200.00) under Part H of the Loan Estimate.

Our Contact Information on the Closing Disclosure

The Contact Information table on the Closing Disclosure (Form H-25) discloses the parties involved with the transaction. The Contact Information table includes information for the Lender, the Mortgage Broker, the consumer’s Real Estate Broker, the seller’s Real Estate Broker, and the Settlement Agent in a columnar format:

  • Name,
  • Address,
  • The NMLS or State license ID, as applicable,
  • The Contact name of an individual (and the NMLS or State license ID),
  • Email, and
  • Phone number.

Unused columns may be removed and columns may be added for additional parties. For example, if there are two real estate brokers representing the seller, a column may be added to identify that party and a column for a party not involved in the transaction may be deleted.

Contact Information

Lender Mortgage Broker Real Estate Broker (B) Real Estate Broker (S) Settlement Agent
Name Central Texas Title
Address *See Closing Office Locations below
NMLS ID
ST License ID 92099
Contact Name of Individual Escrow Officer
Contact NMLS ID
Contact

ST License ID

Escrow Officer’s Individual License Number
Email _________________@centraltexastitle.com
Phone *Telephone Number of Closing Office

*Central Texas Title closing office locations:

Historic Granbury Square
105 E Pearl
Granbury, TX 76048
817.573.3733

Luton Ranch Center
3902 E Hwy 377, Ste 109
Granbury, TX 76049
817.573.8882

Historic Glen Rose Square
105 E Elm
Glen Rose, TX 76043
254.897.9992