The Closing Process
Preparing for closing
Understanding closing costs
Setting a closing date
At your closing
After your closing
Glossary
Understanding closing costs
Closing costs can usually be categorized as buyer costs paid by seller, loan related closing costs, and other fees. Your expenses will usually fall in one of these three categories.
Make sure that any agreement regarding "seller versus buyer costs" is specified in the sales contract. Mortgage-related closing costs can vary, but the following are paid at or by closing:
- loan origination fee
- loan discount points
- appraisal fee
- credit report fee
- prepaid interest
- escrow accounts
- mortgage insurance
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