What Are Home Buying Closing Costs?

Real Estate

What Are Home Buying Closing Costs?

They make up a pretty big piece of the pie when buying a home. For the most part they are divided up into Lender fees, real estate fees and escrows. An example of the lender fees are the following but may not include everything-

1) Loan origination fee

2) Title and examination fee

3) County Filing fees

4) Appraisal

5) PID search (property ID)

6) Broker Admin Commission (Charged by real estate brokerage)

7) Closing services

The other half of the total amount which is about 3% of the sales price of the home would be for establishing escrow accounts for your property taxes and for your home insurance when buying a single family home.