What You Should Know About Closing Costs

What You Should Know About Closing Costs | MyKCM

Closing costs are the fees associated with the sale of a home. Closing costs typically range from 2-5% of the purchase price of the home. Common closing costs include loan origination fees, loan points, title insurance, appraisal fees, survey fees, closing agent fees, and transfer taxes. It is important to understand what closing costs you will be responsible for so that you can accurately budget for the purchase of your home. It is also important to compare loan offers to ensure you get the best rate and fees.

What Are Closing Costs?

Closing costs are the fees associated with the sale of a home. Closing costs typically range from 2-5% of the purchase price of the home. Common closing costs include loan origination fees, loan points, title insurance, appraisal fees, survey fees, closing agent fees, and transfer taxes. These fees are paid at the closing of the sale and are typically split between the buyer and the seller. It is important to understand what closing costs you will be responsible for so that you can accurately budget for the purchase of your home.

How Are Closing Costs Paid?

Closing costs are generally paid at the closing of the sale. Buyers typically pay their closing costs upfront, while sellers may pay closing costs as part of their proceeds from the sale. It is important to understand who will be responsible for which closing costs when negotiating the sale of a home.

Bottom Line

It’s important to plan for the fees and payments you’ll be responsible for at closing. Let’s connect so I can help you feel confident throughout the process.


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