Common Closing Costs for Buyers

When a buyer purchases a home, there are fees that are associated with the property that are paid at closing.  The closing occurs when the property is transferred from the seller to buyer.  These are common closing costs for buyers and do vary from region to region.

  • Down Payment
  • Loan Origination
  • Points, or loan discount fees (for lower interest rate)
  • Appraisal ($400-600, may be required to pay before closing)
  • Credit Report ($20-75 per person, depends on lender)
  • Private Mortgage Insurance Premium (Depends on loan amount and rate)
  • Home Owners Insurance Premium (Pay one year in advance)
  • Property Tax Escrow (Depends on the month you close and when property taxes are due)
  • Survey ($250-400)
  • Deed Recording (Varies from county to county)
  • Title Company Fees (Varies)
  • Title Insurance Policy (Lenders title policy and Owners Title policy, depends on the contract who pays)
  • Doc Stamps, Purchase Deed Tax, and other county tax requirements (Depends on county guidelines)
  • Capital Contribution or Transfer Fee for HOA
  • Home inspection ($250-500, depends on size and type, paid before closing)
  • Brokerage Transaction Fee ($200-500)

IF YOU FIND THIS ARTICLE HELPFUL, WOULD YOU LIKE MORE?

Leave a Reply

Your email address will not be published. Required fields are marked *