If you're buying a home, one of the biggest factors in completing the transaction is the closing costs involved in your loan. The lender must disclose a good faith estimate of all settlement costs. Here are just a few of the costs you can expect to see:

• Down payment

• Loan origination fees

• Points, or loan discount fees you pay to receive a lower interest rate

• Appraisal fee

• Credit report

• Private mortgage insurance premium

• Insurance escrow for homeowners insurance

• Property tax escrow, if being paid as part of the mortgage. Lenders keep funds in escrow accounts, to pay the insurance or taxes for you out of your monthly payment.

• Deed recording fees

• Title insurance policy premiums

• Survey

• Inspection fees - building inspection, termites, etc.

• Notary fees

• Attorney fees

• Prorations for your share of costs such as utility bills and property taxes.

• Mansion tax where applicable.

Back to Sellers Guide