Recording Fee - After closing, your mortgage and property transaction is recorded with the appropriate county. A fee to record the mortgage or deed of trust is charged by the county. Not all states charge a mortgage tax and the tax rate depends on the jurisdiction of the property. States that do charge a mortgage tax are Alabama, Florida, Georgia, Hawaii, Kansas, Maryland, Minnesota, New York, Oklahoma, Tennessee, and Virginia. Property Tax - This tax rate is dependent on your where your property is located.
All states collect property tax on a yearly basis.
The lender will require some additional items that are paid to third parties. Appraisal Fee - An appraiser will evaluate your home to determine it's fair market value. This fee is paid to the appraiser for this report. Your lender will order a credit report to determine your creditworthiness. A fee is paid to the credit service agency.