FlyHomes Affiliated Business Disclosure
This is to give you notice that FlyHomes, Inc. (“FlyHomes”) has a business relationship with FlyHomes Mortgage, LLC (“FHM”) and FlyHomes Closing, LLC (“FHC”). Although separate entities with different leadership structure, FHM and FHC are both wholly owned by FlyHomes. Because of this relationship, this referral may provide FlyHomes with a financial or other benefit.
Set forth below is the estimated charge or range of charges for the settlement services listed. You are NOT required to use the listed provider(s) as a condition for settlement of the purchase, sale, or refinance of the subject property. THERE ARE FREQUENTLY OTHER SETTLEMENT SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICES. YOU ARE FREE TO SHOP AROUND TO DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATE FOR THESE SERVICES.
FlyHomes Mortgage Charges for Mortgage Brokerage Services:
|Service||Rate Range |
|Underwriting||$0|FlyHomes Closing Charges for Owner Title Policy Premiums and the Lender Title Policy Premiums:
|Amount of Liability||Rate |
|Up to $50,000||$443|
|$50,001 to $100,000||$443 to $782|
|$100,001 to $1,000,000||$782 to $3,120|
|$1,000,001 to $5,000,000||$3,120 to $11,095|
|$5,000,001 to $10,000,000||$11,095 to $21,723|
|$10,000,001 to $50,000,000||$21,723 to $53,609|
Actual customer rates depend on the type of coverage purchased, sale price and/or loan amount. For example, typical FlyHomes Closing title policies include:
|Owner's Policy||Standard Rate minus about 30%|
|Lender's Policy||Standard Rate minus about 65%|
|Refinance Policy||Standard Rate minus about 50%|
|Endorsement Fee||$50 - $500|
|Settlement Fee||FHC charges both Buyer and Seller a fee of $1,000 + tax at a rate of 10.1%|
FlyHomes Brokerage commissions are typically 0-6% of the sale price of the home paid by the seller from escrow funds upon close of the transaction.