Typical Closing Costs
Buyers typically pay 2-5% of purchase price in closing costs, including appraisal, title insurance, escrow, recording, and loan origination fees. Sellers pay realtor commissions and transfer taxes.
Negotiating Costs
Costs are partially negotiable. Sellers can agree to pay buyer's closing costs in transactions. Lenders offer fee variations and rate/point trade-offs affecting final costs.
Detailed Estimates
Lenders must provide Loan Estimates showing all costs. Review thoroughly and question any unexpected fees. Understanding costs allows you to budget accurately and compare lender offers.
