Video — What Costs Should You Expect At Closing?

Closing and loan consummation costs are not 100% identical in different states, but you can expect most of the following:

Fees for Loan Origination — processing and administration of the loan

Fees For Recording — official records of ownership.

Fees for Survey(s)

The first Mortgage Insurance premium, if your loan requires it.

To-date Property Taxes

Title Insurance fees — yours and the lenders. (See Title Insurance Made Simple on this site.)

Points (prepaid interest)

Escrow fees and/or attorney fees

Document preparation fees

First payment to the escrow account for future taxes & insurance

If you have not already paid homeowners insurance, that will come up. Likewise, if flood insurance or fire insurance are required, youll need a receipt or payment arrangements.

Read things carefully before signing or paying, and keep copies.