Lender Fees Worksheet for a Mortgage
The Lender Fees Worksheet provides a detailed breakdown of the upfront closing costs and expenses associated with a mortgage. The Lender Fees Worksheet also includes estimated total monthly housing expense including your mortgage payment, property taxes, homeowner's insurance and other applicable housing-related expenses. You should ask for the Lender Fees Worksheet when you submit your loan application or request a mortgage proposal. By law, the lender is not required to provide you with a Lender Fees Worksheet, but will likely provide it to you if you ask.
The Lender Fees Worksheet complements the Loan Estimate that the lender is legally required to provide by law within three days of submitting a mortgage application. The Loan Estimate also provides a detailed breakdown of mortgage costs (on page two) but the two documents may contain different information so it can be helpful to review both when selecting a lender for your mortgage.
The following mortgage fees are typically included on the worksheet:
- Lender charges, also known as origination charges, including the underwriting fee, wire transfer fee and administration fee
- Fees for other services ordered or purchased by the lender including the appraisal report, credit report, tax service and flood certification fees
- Closing or escrow fees paid to the settlement agent or closing attorney
- Document preparation fee charged by the settlement agent
- Notary fee
- Title insurance fee
- Courier fees (if applicable)
- Electronic document delivery fee
- Termite inspection report fee (if applicable)
- Home inspection report fee (if applicable)
- Mortgage recording charges
- Daily interest charges (from the date your loan closes until the end of the month)
- Homeowners insurance premium
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