{"id":4826,"date":"2015-06-24T16:28:58","date_gmt":"2015-06-24T16:28:58","guid":{"rendered":"http:\/\/gohome.fastforwardstories.com\/?p=4826"},"modified":"2015-06-24T16:28:58","modified_gmt":"2015-06-24T16:28:58","slug":"understanding-your-loan-estimate-other-costs","status":"publish","type":"post","link":"https:\/\/trumantitle.com\/2015\/06\/24\/understanding-your-loan-estimate-other-costs\/","title":{"rendered":"Understanding Your Loan Estimate: Other Costs"},"content":{"rendered":"<p><script src=\"https:\/\/fast.wistia.com\/assets\/external\/E-v1.js\" async><\/script><\/p>\n<div class=\"wistia_responsive_padding\" style=\"padding:56.25% 0 0 0;position:relative;\">\n<div class=\"wistia_responsive_wrapper\" style=\"height:100%;left:0;position:absolute;top:0;width:100%;\">\n<div class=\"wistia_embed wistia_async_c58omipxqi dnt=1 videoFoam=true\" style=\"height:100%;position:relative;width:100%\">\n<div class=\"wistia_swatch\" style=\"height:100%;left:0;opacity:0;overflow:hidden;position:absolute;top:0;transition:opacity 200ms;width:100%;\"><img src=\"https:\/\/fast.wistia.com\/embed\/medias\/c58omipxqi\/swatch\" style=\"filter:blur(5px);height:100%;object-fit:contain;width:100%;\" alt=\"\" aria-hidden=\"true\" onload=\"this.parentNode.style.opacity=1;\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Real estate transactions require taxes, certain pre-payments, and escrow funding.<\/p>\n<p><span style=\"text-decoration: underline\">Recording fees<\/span> are charged by government agencies for keeping legal ownership records, while &#8220;transfer taxes&#8221; may be imposed by states, counties and municipalities on real estate ownership transfers.<\/p>\n<p><span style=\"text-decoration: underline\">Prepayments<\/span> may include homeowner&#8217;s insurance premiums on the property mortgage insurance, if required property taxes for a period of months in advance, and prepaid interest, typically for the period from closing to the first mortgage payment.<\/p>\n<p><span style=\"text-decoration: underline\">Escrow funding<\/span> may also be required against future annual charges for homeowners insurance, mortgage insurance and property taxes.<\/p>\n<p>Title insurance on YOUR legal ownership &#8211; &#8220;<span style=\"text-decoration: underline\">Owner&#8217;s Title Policy<\/span>&#8221; &#8211; may be designated as optional, which only indicates that it is not required by this creditor.<\/p>\n<p>Some of these &#8220;Other Costs&#8221; may vary substantially between Loan Estimate and Closing Disclosure ask your lender about the tolerance rules or watch the video &#8220;Could My Loan Cost Exceed The Loan Estimate?&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Real estate transactions require taxes, certain pre-payments, and escrow funding. Recording fees are charged by government agencies for keeping legal ownership records, while &#8220;transfer taxes&#8221; may be imposed by states, counties and municipalities on real estate ownership transfers. Prepayments may include homeowner&#8217;s insurance premiums on the property mortgage insurance, if required property taxes for a&hellip;<\/p>\n","protected":false},"author":51,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[14],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Understanding Your Loan Estimate: Other Costs - Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trumantitle.com\/2015\/06\/24\/understanding-your-loan-estimate-other-costs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Understanding Your Loan Estimate: Other Costs - Warrensburg, Higginsville, Lexington, MO | Truman Title, Inc.\" \/>\n<meta property=\"og:description\" content=\"Real estate transactions require taxes, certain pre-payments, and escrow funding. 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