How to Prepare for Closing Costs for a Smooth Home Buying Experience

(StatePoint) Buying a home? Don’t forget to account for closing costs. These settlement fees are among the last expenses you pay before officially taking ownership of your new home. Here’s what to know:

What are closing costs?Closing costs are fees charged by your lender, real estate agent and other third parties involved in the homebuying transaction. They include various charges related to property expenses, the mortgage application process and other paperwork. Closing costs include a combination of one-time fees, which may include the loan origination fee, appraisal fee, and initial installments of recurring costs — such as your homeowners insurance and escrow payment.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.

Post a comment
Stop watching this discussion.