What Are Closing Costs?

What’s Included?
- Credit report fees (the cost of checking your credit record)
- Loan origination fees (which consists of the cost to your lender for processing your loan)
- Attorney fees
- Inspection fees (for inspections requested by either you or the lender)
- Appraisal fee
- Survey fee (so that both you and the lender know where your property boundaries lie)
- Escrow deposit which may cover private mortgage insurance and some property taxes
- Pest inspection fee
- Recording fee paid to a county or city authority to file a record of the property transfer and/or new mortgage lien against the property
- Underwriting fee to cover the cost of processing a loan application
- Discount points (money you pay your lender to get a lower interest rate)
- Title insurance (protection for you and the lender should there be any issues with title to the property)
- Title search fees (costs incurred by the company who checks the title on the property)
Can I Add my Closing Costs to the Loan?
What Can I Expect?
Keep reading for more about buying your first home:

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