What Are Closing Costs?

What Are Closing Costs?

Fees for Buying a Home

The closing is the process of passing ownership of a property from the seller to the buyer.  As a buyer, you will sign what seems like endless piles of documents and will have to present a sizable check for the down payment and various closing costs.  Many of the fees may vary by locality, here are some common fees:

1. Appraisal Fee
2. Credit Report Fee
3. Loan Origination Fee
4. Loan Discount
5. Title Insurance Fees
6. PMI Premium
7. Prepaid Interest Fee
8. Escrow Accounts
9. Recording Fees and transfer taxes

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