Home Buyer Costs

Below is a list of common closing costs for buyers in Chicago, Evanston, Wilmette, Kenilworth, and Winnetka.

Estimate total costs by entering numbers into the Value column. Please consult with your lender and attorney for more information and more detailed costs.

Type of Fee   Value  Typical Costs
Lender Fees
Loan Origination Fee $ To be determined by your lender
Appraisal Fee $ Typically $200-$500, but varies by property type
Credit Report $ $20-$35
Underwriting $ $275-$450
Document Preparation $ $150-$250
Tax Service Fee $ $75-$100, a one-time fee to conduct a search to verify that property taxes were credited to the correct account.
Pre-Paid Interest $ Check with your lender. Loan interest is paid in advance for the remainder of the month in which the closing takes place.
Pre-Paid Taxes $ Taxes may be paid in advance. Check with your attorney.
Homeowner’s Insurance $ 1 year pre-paid
Other Fees $ Check with your lender to determine if other fees apply.
Title and Closing Fees
Title Fees $ $325-$500 and up, based on property type. This fee is for the lender’s title policy, insuring the lender’s lien position.
Settlement or Closing Fee $ $500-$750 and  up, based on the purchase price. This fee goes to the settlement agent for handling funds.
County Recording Fees $ $36.50 for the first two pages, $2 for each additional page.
Attorney’s Fee $ $500-$1,000, but varies
Other Fees $ Check with your attorney to determine if other fees apply, such as a notary fee.
Real Estate Transfer Taxes
Illinois/Cook County Transfer Fee $ $1.50 per $1,000 of purchase price, typically paid by the seller
Chicago Transfer Stamps/Taxes $ $7.50 per $1,000 of purchase price, typically paid by the buyer
Evanston Transfer Stamps/Taxes $ $5.00 per $1,000 of purchase price, typically paid by the seller
Wilmette Transfer Stamps/Taxes $ $3.00 per $1,000 of purchase price, typically paid by the buyer
Kenilworth/Winnetka Transfer Stamps $ There are no municipal transfer taxes in Kenilworth or Winnetka (only the county transfer tax)
Additional Settlement Charges
Home Warranty $ $350 and up depending upon the size of the home
Home Inspection Fee $ $250-$750 depending upon the size of the home
Other Fees $  
Total Settlement Charges $ 0