Purchasing a home in West Virginia
West Virginia refinance
West Virginia real estate and title settlement attorney
West Virginia charges state transfer stamps of 4.40 or 6.60 per thousand based on the sales price. Buyer usually pays this when it is new construction... carefully read your contract. Below are the state transfer stamps charged, depending on which West Virginia county you are purchasing a home in.
Title Insurance premiums:
Lender's Policy $2.90 per thousand up to $100,000
$1.50 over $100,000
Owner's Policy
Refinance- generally 30% reissue on Title premium based on what was paid in title insurance at previous settlement when less than 10 years ago. You must have a hard copy of your Owner's Policy of Title Insurance to give to the settlement company to receive this discounted re-issue rate. See refinance mistakes to avoid..
Typical settlement company will charge the following:
Barbour |
$4.40 | Mineral | $6.60 |
|---|---|---|---|
Berkeley |
$6.60 | Mingo | $6.60 |
Boone |
$4.40 | Monongalia | $4.40 |
Braxton |
$4.40 | Monroe | $6.60 |
Brooke |
$4.40 | Morgan | $6.60 |
Cabell |
$4.40 | Nicholas | $6.60 |
Calhoun |
$4.40 | Ohio | $4.40 |
Clay |
$4.40 | Pendleton | $6.60 |
Doddridge |
$4.40 | Pleasants | $4.40 |
Fayette |
$6.60 | Pocahantas | $6.60 |
Gilmer |
$4.40 | Preston | $6.60 |
Grant |
$6.60 | Putnam | $4.40 |
Greenbrier |
$6.60 | Raleigh | $4.40 |
Hampshire |
$6.60 | Randolph | $4.40 |
Hancock |
$4.40 | Ritchie | $4.40 |
Hardy |
$6.60 | Roane | $4.40 |
Harrison |
$4.40 | Summers | $6.60 |
Jackson |
$4.40 | Taylor | $4.40 |
Jefferson |
$6.60 | Tucker | $4.40 |
Kanawha |
$4.40 | Tyler | $4.40 |
Lewis |
$4.40 | Upshur | $4.40 |
Lincoln |
$4.40 | Wayne | $4.40 |
Logan |
$4.40 | Webster | $4.40 |
Marion |
$4.40 | Wetzel | $4.40 |
Marshall |
$4.40 | Wirt | $4.40 |
Mason |
$4.40 | Wood | $4.40 |
McDowell |
$4.40 | Wyoming | $4.40 |
Mercer |
$4.40 | ||
BUYER
Settlement
$200
Title Exam
$300
Title Binder
$125
Recording Fee
$36
Archive and FedEx
$28
SELLER
Settlement
$200
Document Preparation
$200
Archive and FedEx
$15
REFINANCE
Settlement
$300
Title Update
$175
Title Binder
$125
Document Preparation
$25 per release
Recording Fee
$30 for each Deed
Archive and FedEx
$47
HOME EQUITY LOAN, SECOND TRUST
Settlement
$150
Title Update
$175
Title Binder
$125
Doc Prep
$25 per release
Recording Fee
$25
Archive and FedEx
$32
West Virginia refinance
Licensees who charge loan origination fees, investigative fees, or points or any combination may not charge them in any refinancing of that loan or any additional loan, relating to the same property, within twenty-four months of the date of the original loan. However, if the refinancing results in a reasonable tangible net benefit to the borrower, considering all the circumstances, then the licensee may participate in a refinancing. Each borrower must receive a copy of this form (see below) at or before the loan closing for such refinancing. The original of this form must be retained in the licensee’s loan file for 3 years after date of the refinancing.
5
5
West Virginia Division of Banking
Tangible Net Benefit Worksheet
The Following worksheet must be used in the determination of a borrower’s tangible net benefit as the benefit relates directly to the new loan extended. Additional information may be provided on supplemental sheets or on the reverse if the fields below are insufficient. Questions regarding this form should be directed to the Division of Banking at (304) 558-2294.
Was the previous loan provided by the licensee or a related entity or affiliate of the licensee? ____Yes ____No
If No, the licensee is not required to fill in the following fields pertaining to the previous loan: Debt to Income Level, Loan to Value, and Loan Purpose.
If Loan Amount of previous loan is unknown, you may substitute with the Loan Payoff as long as it is clearly identified as such.
Licensee: ________________________
License Number: _________________
Loan Originator/Processor: ______________________
Borrower Name(s): ________________________________________________
Property Address: _________________________________________________
LOAN INFORMATION
|
NEW LOAN |
PREVIOUS LOAN |
LOAN DATE |
|
|
LOAN AMOUNT |
|
|
LOAN TERM |
|
|
TYPE OF LOAN |
Fixed Rate Adjustable Rate Balloon |
Fixed Rate Adjustable Rate Balloon |
LOAN RATE |
|
|
PAYMENT AMOUNT |
|
|
PREPAYMENT PENALTY |
|
|
LOAN TO VALUE |
|
|
DEBT TO INCOME LEVEL |
|
|
LOAN PURPOSE |
|
|
LOAN ORIGINATOR TO COMPLETE:
The borrower received the following described tangible, net benefit through a refinancing of
this loan or an addition loan secured by this borrower's same property?
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
Signature: _____________________________ Date: _________________
Print: __________________________________
Approved By: ____________________________
Manager/Officer
Print: __________________________________
BORROWER CERTIFICATION:
I understand that my broker and/or lender must show that I have received a reasonable, tangible net benefit by refinancing this loan or obtaining additional loan on my property when a new or addition loan is made within a twenty-four month period. I affirm that the tangible net benefit of my new loan has been explained. Finally, I understand and confirm the benefit.
Borrower: _____________________________ Date: _____________
Borrower: ______________________________ Date: _____________
-------------------------------------------------------------------
West Virginia real estate and title settlement attorney
American National Title Corporation
809 Gleneagles Court, Suite 101
Towson, Maryland 21286
410-494-0380
www.antitlecorp.com
Maryland closing costs
Virginia closing costs
Washington, D.C. closing costs
Delaware closing costs