Closing Costs

What are my closing costs?

In addition to your down payment (purchases only), you will pay closing costs. The following is based on a Conventional fixed rate mortgage for a single family detached home located in Lake County, IL with a mortgage amount of $165,000.
Lender Fees $0.00 $0.00
Appraisal Fee $500.00++ $500.00++
Credit Report Fee $75.00 $75.00
Employment Verification (if applicable) $125.00 $125.00
Flood Cert Fee $12.50 $12.50
Title Company Fees:
Settlement Fee $1250.00 $250.00
Loan Policy of Title** $1,000.00 $250.00
Email – Wire – Courier Fees to the Title Company $85.00 Incl. in Charges Above
Recording Fees $135.00 $110.00
Total $3,182.50* $1,322.50

++ You will only be charged the actual cost of your appraisal. Fees vary depending on property type (single family, 2-4 units, non-owner occupied properties or properties valued over $1,000,000).

* IF your real estate contract indicates that you are to pay State, County or City Transfer Taxes, they would be in addition to the closing costs above.

** The title company fees can vary by title company and are not set by North Shore Trust and Savings. Fee above includes the cost of EPA Endorsement and Chain of Title.

You will also have prepaid expenses which include per diem interest paid from date of closing until the end of month, one year prepaid homeowners insurance policy and initial deposit of real estate taxes and insurance into your escrow account (unless you will be paying your own taxes and insurance).


How is my rate determined?

NORTH SHORE TRUST AND SAVINGS understands that borrowers are looking for the best mortgage rate whether purchasing or refinancing. In today’s mortgage environment it is not easy to publish a rate that fits all borrowers. Interest rates are determined based on certain characteristics such as . . .
  •  Loan to Value Ratio & Credit Scores
  •  Purchase – Rate/Term Refinance – Cash Out Refinance
  •  Owner Occupied or Non-Owner Occupied
Interest rates vary depending on the loan program. NORTH SHORE TRUST AND SAVINGS offers a full array of programs including . . .
  •  Conventional – FHA – VA Fixed & Adjustable Rate Mortgages
  •  Jumbo and Mini-Jumbo Programs (loan amounts over $453,100)
  •  First Time Homebuyer Programs
To provide you the best interest rate quote that meets your loan characteristics . . .
Call: 847.599.7440 or 847.245.3700   
Email:  [email protected]