Understanding Closing Costs
Know what fees to expect when buying or selling a home
Buyer Closing Costs (2-5%)
Loan Origination1%
Appraisal$500
Title Insurance0.5%
Title Search$400
Home Inspection$450
Recording Fees$125
Prepaid Interest0.5%
Escrow Deposit0.25%
Seller Closing Costs (6-10%)
Real Estate Commission5%
Title Insurance (Owner's)0.3%
Transfer Tax0.5%
Attorney Fees$800
Ways to Reduce Closing Costs
Shop around for lenders
Negotiate seller credits
Ask about no-closing-cost loans
Compare title companies
Close at end of month
Review Loan Estimate carefully
When Are Closing Costs Paid?
Closing costs are paid at the closing table on your settlement date. You'll receive a Closing Disclosure at least 3 days before closing with final amounts.
Pro Tip:
Request a cashier's check or wire the funds a day early to avoid delays on closing day.
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