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Real Estate Glossary

Closing costs

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Richard Wilson
Written by Richard Wilson

This refers to the costs the buyer needs to pay at the time of the closing. Closing costs can depend from one financial institution to another. They are in addition to the downpayment, which may include title charges, the credit report fee, the mortgage insurance premium, the document preparation fee, inspections, prepayments for property taxes, appraisals, homeowners insurance, and the deed recording fee.

This refers to the costs the buyer needs to pay at the time of the closing. Closing costs can depend from one financial institution to another. They are in addition to the downpayment, which may include title charges, the credit report fee, the mortgage insurance premium, the document preparation fee, inspections, prepayments for property taxes, appraisals, homeowners insurance, and the deed recording fee.

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Richard Wilson

Richard Wilson

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