Closing Costs Explained
What to expect when finalizing your mortgage.What Are Closing Costs?
Fees paid when finalizing a mortgage, typically 2-5% of the loan amount ($8,000-$20,000 on a $400,000 home).
Common Fees
Lender fees (origination, application, underwriting), third-party fees (appraisal, title, survey, attorney), prepaid items (insurance, taxes), and government fees (recording, transfer taxes).
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Closing Costs
Frequently Asked Questions
Who pays closing costs?
Buyers pay most, but sellers can contribute up to 3-6% depending on loan type.
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