Closing Costs

So, you’re wondering how much it costs to buy a house?

In our Buyer’s check-list, we discussed earnest money, cost of appraisal and inspection fees.

There are two types of closing costs:

  • one-time fees
  • recurring costs

One-time fees include, but are not limited to:

  • Title Insurance
  • Title Search
  • Attorney fees
  • Escrow fees
  • Notary fees
  • Wire fees
  • Courier fees
  • Home Inspections
  • Recording Fees (local fees)
  • Credit Check
  • Document Preparation
  • Appraisal Fees
  • Endorsements
  • Transfer Fees (county/city)

Recurring Closing Costs, typically included in your monthly payment, include:

  • Property Tax
  • Private Mortgage Insurance
  • Flood Insurance
  • Fire Insurance

Don’t let this daunting list overwhelm you. Often the Seller is willing to contribute to your closing costs. The Seller is prohibited from contributing to your required down-payment, although that can be “gifted.”

I encourage you to compare Lenders and their fees. We have some excellent lenders we would be happy to refer you to, feel free to check them out & if you have any questions, be sure to ask.

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