Fee Schedule

Fee Schedule for Prospective Homebuyers

Home Trust Annual Membership: Non-refundable

  • $30.00 per household per year

Helps support San Juan Community Home Trust operations.

Credit Report Cost: Non-refundable

  • $20.00 – $25.00   Initial Credit Report (required by Home Trust)
  • $25.00 – $75.00   Residential Mortgage Credit Report (required by lender)

Prospective homeowner pays for the credit report.  Two are needed for purchase–one for initial screening, one for Lender’s final qualifying.

Application Fee Non-refundable

  • $30.00   Application fee per household
  • Applied toward closing costs for SHOP recipients

Supports Home Trust staff time to process your application.

Commitment Fee:

  • $200.00
  • Refundable only if applicant does not qualify for a mortgage
  • Due upon signing a Commitment Agreement with the Home Trust
  • Applied toward closing costs for SHOP recipients

Establishes commitment relationship.

Earnest Money:

  • $250.00
  • Due to the escrow company upon signing a purchase agreement

Applied to down payment or closing costs upon closing

San Juan County Revolving Loan Application Fee: Refundable only if applicant does not qualify for a mortgage

  • $100.00
  • Due upon applying, if needed
  • Up to $50,000 for a 2nd mortgage with SJC to reduce monthly mortgage payments

Helps support SJC Revolving Loan Fund program.

Closing Costs and Mortgage Application Fees (approximate only):
Paid to the escrow agent at closing for distribution to proper party
(Most of our buyers open a Home$tart account with $1666.00 at Islanders Bank to get a $5000.00 2nd for closing costs)*

  • $500.00 – $600.00   Appraisal (expert’s opinion of the value of the home prior to purchase)
  • $450.00 – $500.00   Home Inspection (expert’s opinion on the condition of the home prior to purchase)
  • $350.00   Escrow fees
  • $375.00   Title Insurance
  • $350.00   Recording fees
  • $100.00   partial payment for first year’s property insurance
  • $600.00   partial payment of first year’s property taxes
  • $200.00   miscellaneous other closing costs such as tax service fees to lender (if applicable) 1% Real Estate excise tax
  • 1%  San Juan Community Home Trust administrative processing fee
  • 1%  Mortgage processing fee to lender (if applicable)

Note: The specific amount of these fees will depend on the actual sale price of your home. Usually, the above fees are included in the total mortgage loan. If not, they must be paid in cash at closing. *Closing costs have been running around $6,000.00 total.