Fees and Charges

Skip Navigation LinksHelp \ Other \ Fees and Charges \ Property Owner fees


Property Owner fees



Mortgage Financing Fees Property Owners Pay

Mortgage Financing 1% or $950 closing fee

If you are a property owner and your Mortgage Financing is funded, you will be charged a percentage of the amount financed or $950 whichever is higher.

For example, if you take a Mortgage Financing for $100,000 to pay for your new home, you will be charged $1000. The 1% is charged at the time of underwriting. The fee can be financed in the loan.

Appraisal Fee

An appraisal fee is between $300 to $500 is paid directly to a qualified professional appraiser perform an appraisal of a property.

Investors use appraisals to confirm that the property they are financing is worth the amount of financing. Investor does not want to be stuck with a property less than what was financed at in case of the property owner default.

Property owner receives a copy of the appraisal once it's completed.

Application Withdrawal Fee

You may withdraw your application at any time up to the point when underwriting is completed at no cost to you. Broker and IRESE invested time and money to review and to verify your application. You will be charged a penalty to withdraw your application, which would be refunded, if you to re-submit within 3 business days. The fee to withdraw your application once it is underwritten is $300.

$15 failed payment fee

If a Mortgage Financing payment is unable to be made due to insufficient funds in your account, the closure, change or inaccessibility of your account without your having notified us, or for any other reason (other than an error by us), you'll be charged a fee of $15 for each check or bank draft returned or failed automated withdrawal. This fee is retained by IRESE.

Late payment fee

If your monthly payment is 15 days late, you'll be charged a late fee. Late fees are passed on to investors; IRESE does not retain late fees.

1% non-electronic funds transfer surcharge

Property owners who elect not to pay their Mortgage Financing payments through electronic funds transfer will receive a surcharge of 1.00% from the interest rate on Mortgage Financing.

Future Equity Agreement Fees Property Owners Pay

Future Equity Agreement 1% closing fee

If you are a property owner and your Future Equity Agreement is funded, you will be charged a percentage of the amount financed.

For example, if you are a property owner and you take a Future Equity Agreement and receive debt-free cash of $50,000, you will be charged $500. The 1% is taken from your financing immediately, so in this example your Future Equity Agreement is for $50,000 and you'd receive $49,500 in cash deposited into escrow account.

Application Withdrawal Fee

You may withdraw your application at any time up to the point when underwriting is completed at no cost to you. Broker and IRESE invested time and money to review and to verify your application. You will be charged a penalty to withdraw your application, which would be refunded, if you to re-submit within 3 business days. The fee to withdraw your application once it is underwritten is $300.

$15 failed payment fee

If a Future Equity Agreement ends and you owe the equity share payment and payment is unable to be made due to insufficient funds in your account, the closure, change or inaccessibility of your account without your having notified us, or for any other reason (other than an error by us), you'll be charged a fee of $15 for each check or bank draft returned or failed automated withdrawal. This fee is retained by IRESE.

Late payment fee

If your equity share payment, if any, is 15 days late, you'll be charged a late fee.

1% non-electronic funds transfer surcharge

Property owners who elect not to pay their Future Equity Agreement equity share payments through electronic funds transfer will receive a surcharge of 1.00% from the equity share payment on Future Equity Agreement.

Home Equity Protection Plan Fees Property Owners Pay

Home Equity Protection Plan premium

If you are a property owner and your Home Equity Protection Plan is underwritten, you will be charged a one time premium that will depend on the property address, the length of the insurance and future property value your insure.

Application Withdrawal Fee

You may withdraw your application at any time up to the point when underwriting is completed at no cost to you. Broker and IRESE invested time and money to review and to verify your application. You will be charged a penalty to withdraw your application, which would be refunded, if you to re-submit within 3 business days. The fee to withdraw your application once it is underwritten is $300.

$15 failed payment fee

If a Home Equity Protection Plan underwritten and your premium payment is unable to be made due to insufficient funds in your account, the closure, change or inaccessibility of your account without your having notified us, or for any other reason (other than an error by us), you'll be charged a fee of $15 for each check or bank draft returned or failed automated withdrawal. This fee is retained by IRESE.

1% non-electronic funds transfer surcharge

Property owners who elect not to pay their Home Equity Protection Plan premium payments through electronic funds transfer will receive a surcharge of 1.00% from the premium payment on Home Equity Protection Plan.


Was this information helpful?





2.050116
Legal Agreements  |  Privacy  |  Security  |  Policies  |  Terms of Use  |  About Us  |  Your Feedback
Copyright © 2015 IRESE®, Inc. Patent Pending.