If you’re thinking about buying a home, make sure to plan for closing costs.
What are they?
Closing costs are the fees and expenses you must pay before becoming the legal owner of the property. These fees vary depending on the purchase price of the home and how it’s being financed.
What do they typically include?
Recording costs, appraisal fees, lender fees, title services, survey fees, attorney fees, underwriting fees.
How much are they?
Closing costs are usually 2-5% of the purchase price. They do vary, so talk with your lender to make sure you understand the amount you’ll be paying, and what the costs are going towards.
As you’re getting ready to buy a home, it’s important to plan or the fees and payments you’ll be responsible for at closing.