What are closing costs?
Closing Costs are those costs that are charged by the lender, Title Company, attorney, county, state, etc. to process the closing of your home. These costs generally around 2.5% of your loan amount and include such things as the cost to process the loan, title search and insurance, taxes, plat drawing or survey, etc.
Closing costs are the costs associated with processing the paperwork to buy a house. Closing costs which you will pay at settlement average 3-4% of the price of your home. These costs cover various fees your lender charges and other processing expenses. When you apply for your loan, your lender will give you an estimate of the closing costs, so you won’t be caught by surprise.
