Home Buyer Closing Costs

Finance James Kil October 28, 2020

The costs shown below are most common. If you have any questions regarding any of the information shown below - please feel free to give me a call or shoot me an email to discuss your curiosity.

Buyer Closing Costs: if financing was obtained: ( These total fees can vary between 2-5% of the loan amount )

- Lender Fees (Origination fees/points (Not the same as discount points), processing, prepaid interest – these will show on your loan estimate and/or terms)

- Mortgage Insurance, this is not the same as Mortgage protection. (If Applicable)

County & Property Taxes (Pro-rated)
City Transfer Taxes: These are assessed by some cities and are typically a percentage ranging from ~1%-~2% of the sales price. This fee is usually split but i would refer you to county standards shown here.
Homeowner’s Insurance.
Title Insurance: There are two types of policies, the home buyer’s policy and the lender’s policy. Both policies protect either the home buyer or lender from unknown title claims. This fee varies from county to county, please see the link here.
Escrow Fees: These fees are paid to the title and/or escrow company for miscellaneous services rendered, e.g. opening escrow, document preparation, notary, processing, recording. This fee varies from county to county, please see the link here.
Appraisal Costs (negotiable with the seller)
HOA Fees (If Applicable)

Here is a great article and tool to aide in whether or not you should buy discount points if you are financing your purchase here - (I am not and do not sponsor any of the companies displayed on the following weblink).

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