Buyer closing costs in Tennessee
Tennessee's transfer tax, mortgage tax and recording fees are set by law, so most of a buyer's cash-to-close can be estimated before you ever talk to a lender.
| Transfer (recordation) tax, $0.37 per $100 | $1,665.00 |
|---|---|
| Mortgage tax, $0.115 per $100 after the first $2,000 | $463.45 |
| Recording: deed (3 pages) | $17.00 |
| Recording: deed of trust (15 pages) | $77.00 |
| Owner's title policy (buyer pays) Filed rate; varies by underwriter. | $2,650.17 |
| Lender's title policy (simultaneous issue) | $200.00 |
| Closing protection letter | $50.00 |
| Buyer closing / settlement fee Estimate; ask your title company for its fee sheet. | $500.00 |
| Lender fees (from your Loan Estimate) | $3,500.00 |
| Prepaids and escrow deposits (insurance, taxes, interest) | $3,000.00 |
| Estimated cash to close, before down payment | $12,122.62 |