The Closing Process

Closing Costs Defined

There are costs associated with purchasing a home. Check out a sample Closing Disclosure, which outlines terms and costs of your transaction. Here’s a review of many of the common fees.

Origination

Points

Underwriting

Appraisal

Credit report

Flood determination

Home inspection

Pest inspection

Survey

Title insurance binder

Lender’s title insurance

Owner’s title insurance

Settlement

Title search

Document preparation

Notary

Attorney fees

Recording fees

Transfer tax

Homeowner’s insurance premium

Mortgage insurance premium

Prepaid interest

Property taxes

Home warranty

Real estate commission