> Closing Costs

Closing Costs

Closing costs are the fees paid when the title of a property is transferred from the seller to the buyer. The closing is when the real estate transaction or purchase is finalized. There are typically closing costs for both the buyer and the seller. In some situations, the seller can offer concessions on closing costs to help make the sale.

The closing costs include fees for the origination and underwriting of the loan, insurance premiums, title filings, taxes, and real estate commissions. These costs vary by state, the size of the loan, and whether the loan is an original purchase or a refinance of an existing mortgage.

Here’s a listing of the standard closing costs:

  • application fee
  • appraisal
  • attorney fee
  • courier fee
  • escrow deposit
  • flood determination
  • home inspection
  • homeowner’s insurance
  • original fee
  • pest inspection
  • property taxes
  • recording fees
  • title insurance
  • title search
  • transfer taxes
  • underwriting fee


These fees will vary depending on the state and the type of loan.