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What are closing costs and how much are they?

By Bob Millaway, South Jersey Community Expert & REALTOR®

Closing costs include loan origination fees, appraisal, title search, title insurance, attorney fees, prepaid property taxes, and homeowner's insurance. They typically range from 2 to 5 percent of the purchase price. Your lender must provide a Loan Estimate within three days of your application.

Why It Matters

Knowing closing costs ahead of time prevents surprises at the closing table and helps you budget accurately.

Related Questions

What should I look for during an open house? How much should I save for a down payment? What loan options are available for first-time buyers? What questions should I ask my real estate agent when buying? How do I know if a home is priced fairly?

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