Closing costs: What are they?
rocketmortgage.com
Closing costs: What are they?
For a home buyer, closing costs are typically 3% – 6% of the loan amount. Learn more about how to estimate your closing costs and what’s included in them.
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“Wait what are closing cost?” What’s actually included in mortgage closing costs? 🤔 Here are the big ones: • Lender fees (processing & underwriting) • Appraisal • Credit report • Title search & title insurance • Escrow/settlement fee • Recording fees • Prepaid items (taxes, insurance, daily interest) • HOA fees if the home has an HOA • Optional points to buy down the rate Closing costs usually run 2–5% of the purchase price, and every dollar is itemized so you know exactly what you’re paying fo
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“Wait what are closing cost?” What’s actually included in mortgage closing costs? 🤔 Here are the big ones: • Lender fees (processing & underwriting) • Appraisal • Credit report • Title search & title insurance • Escrow/settlement fee • Recording fees • Prepaid items (taxes, insurance, daily interest) • HOA fees if the home has an HOA • Optional points to buy down the rate Closing costs usually run 2–5% of the purchase price, and every dollar is itemized so you know exactly what you’re paying fo
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