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Closing costs are the incurred expenses over and above the price of the property.

The total can be several thousand dollars, not including the down payment. Costs vary depending on the state and financing terms. I can help you understand what costs to expect at the closing and in what form they must be paid (certified funds, cashier’s check, or a wire transfer). Costs you may incur are:

Mortgage

• Application fees

• Appraisal fees

• Survey fees (Optional Expense)

• Loan origination fees

• PMI

• Points

• Title Insurance

• Credit report cost

• Future interest payments, depending on the loan terms

Title

• Title transfer fees

• Recording fees

Additional state or local taxes (could include property taxes) Insurance

• Homeowner’s insurance

• Hazard insurance, if required by state or local law

Other professional

• Attorney fees

• Escrow company fees

• Closing company fees