Closing Costs

Buyer or Seller?

obviously, this is very general. The lender MUST give you a "good faith HUD estimate" and is usually very close.



Origination Fee for the loan (1% is pretty common. Some have none) These are often called "Points"

Pro-Rata share of taxes, assessments and Association dues(if you have a neighborhood association)

title policies (title insurance), recording fees, inspections (you may have paid before closing), courier charges (to file the documents at the courthouse)

Also, any Escrow deposits needed (HO insurance, Flood, Taxes, etc)


generally speaking...about 2 to 4 % of the loan amount.


AGAIN...the lender will give you an estimate that shold be very close.

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Pro-Rata share of taxes, assessments and Association dues(if you have a neighborhood association)

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Actually the seller should pay you the pro-rata taxes, etc up until the date of closing.

Just when you think you have enough....

Never apologize for laughing. :D

just got a good faith estimate yesterday. closing costs estimated to be close to $19,000 for a $280k purchase price, 1% origination

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closing costs estimated to be close to $19,000

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HOLY shite

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just got a good faith estimate yesterday. closing costs estimated to be close to $19,000 for a $280k purchase price, 1% origination

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1% of 280K is $2800 (and that's on the purchase price, not the loan amount which is what origination fees are based off of), so where is the other $16.2K + going?

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i have "good faith" that it's way on the high side

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actually im wrong. those are the total funds needed for closing, including the 3% or so downpayment.