Closing costs are fees and prepaid items due when you finalize the purchase, on top of the down payment.
Common items
- Lender fees like origination and underwriting
- Appraisal and credit report fees
- Title insurance and settlement fees
- Recording fees and transfer taxes
- Prepaid property taxes, insurance and interest
Lower them
Compare Loan Estimates, ask the seller to contribute, and check down payment assistance programs that cover closing costs.
General educational information, not mortgage advice. Programs and rules change. Save More Haven isn't paid by any lender, broker or real estate agent.