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Tax Closing Costs

Property Taxes

This is the one closing cost that is often prorated between the buyer and seller. If the seller has already paid the annual property taxes, the buyer typically reimburses the seller for the period in which the buyer will be occupying the property. Likewise, if the taxes have not yet been paid, the seller typically reimburses the buyer for the period in which the seller occupied the property.

Transfer Taxes and Recording Fees

This is the cost for transferring ownership of the property and recording the purchase documents. The fee is often calculated as a percentage of the sales price.

Have questions about the loan process? Call Tomas at ( 815) 981-2702. We answer questions about the loan process every day.

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NMLS  9908   |     FAIR LENDER     |     FAIR HOUSING

 

MB. 6760743 NMLS ID. 9908 Team USA Mortgage, L.L.C. -Illinois Residential Mortgage Licensee

*Illinois Department of Financial and Professional Regulation (IDFPR) Division of Banking - Bureau of Residential Finance Chicago Office: 555 West Monroe Street, 5th Floor; Chicago, Illinois 60661

General Inquiries: 1-888-473-4858; TYY: 1-866-325-4949 -Chicago Office Line for Banking: (312) 793-7090 -Email General Questions for the Division of Banking Website: https://idfpr.illinois.gov

For licensing information, go to: www.nmlsconsumeraccess.org

1709 Tullamore Ave, Suite #D 

Bloomington, IL 61704

Company NMLS 9908 Branch NMLS 2376851 

815-981-2702    |   tomas@teamusamtg.com

 

*STATE OF ILLINOIS COMMUNITY REINVESTMENT NOTICE
The Department of Financial and Professional Regulation (Department) evaluates our performance
in meeting the financial services needs of this community, including the needs of low-income to
moderate-income households. The Department takes this evaluation into account when deciding
on certain applications submitted by us for approval by the Department. Your involvement is encouraged.

You may submit signed, written comments about our performance in meeting community financial services needs to the department.

NMLS  9908   |     FAIR LENDER     |     FAIR HOUSING

 

MB. 6760743 NMLS ID. 9908 Team USA Mortgage, L.L.C. -Illinois Residential Mortgage Licensee

*Illinois Department of Financial and Professional Regulation (IDFPR) Division of Banking - Bureau of Residential Finance Chicago Office: 555 West Monroe Street, 5th Floor; Chicago, Illinois 60661

General Inquiries: 1-888-473-4858; TYY: 1-866-325-4949 -Chicago Office Line for Banking: (312) 793-7090 -Email General Questions for the Division of Banking Website: https://idfpr.illinois.gov

For licensing information, go to: www.nmlsconsumeraccess.org