Closing costs: are based upon the information you provided and are subject to change until you have completed an application and locked your interest rate. When your online application has been completed, you will be provided a Loan Estimate (federal disclosure), and upon receipt of your loan pre-approval, you will be given the opportunity to lock your interest rate and guaranteed closing costs.

Guaranteed Lender Fee: Empire’s lender fee includes processing, underwriting, credit report, doc prep, funding, tax service and flood cert – everything! This fee may be covered partially or entirely by the lender credit; contact an Empire Loan Consultant to discuss this option.

Empire’s Guaranteed Appraisal Fee is determined by the county you selected to produce your pricing. Note, if your home is valued over one million, or larger in size (home or land) – that fee may increase.

Recording Fees: on refinance transactions, your current lender may charge you a recording fee or a processing fee to prepare and deliver a payoff demand for the payoff of your current mortgage obligation.

Pre-paids: Interim Interest is defined as prepaid interest from the day you fund your new home loan until the end of the month in which your transaction closes. Since this pre-paid interest period is difficult to estimate early in the transaction we don’t currently estimate pre-paid interest until closing.

Impound Account Reserves: these reserves are calculated depending on the month of the year your transaction closes. The amount collected will be that amount necessary to ensure sufficent funds are in the account when your property taxes (or insurance) is due. Also a small two-month cushion is required. If you have an impound account with your current mortgage lender, you can expect a full refund of those monies within 30 days of closing. For purchase transactions, you can expect annual property taxes to be calculated at a rate of 1.250% of the purchase price.