Closing Costs

By Xavier Flores in Blog.

Most home loans have fees. Sometimes, you can borrow the money needed to cover the cost of the fees, but then you will be increasing the overall amount of your loan. Some fees need to be paid up front, while some are due at the time of closing. These are some of the typical fees at closing:

Application Fees

Title Examination

Abstract of title fees

Title insurance premiums

Property survey fees

Deed preparation fees

Other mortgage fees

Settlement documents

Attorney fees

Recording fees

Notary fees

Appraisal fees

Credit report fees

The Real Estate Settlement Procedures Act requires that your lending institution provides you, as the borrower, with a good faith estimate of your closing costs at the time of application. This must list each expected cost, with a range or an exact amount where applicable. Many buyers are not aware of all of the fees that occur when buying a home. That is one of my jobs as a Realtor. I will help you navigate the fees, as well as recommend a proficient lender who will help you throughout the loan process.