
WHAT MAKES UP THE CLOSING COSTS?
Closing fees can vary quite a bit, depending on the type of property you buy and where you buy it, but frequently include things like:
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A fee for checking your credit report
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A loan origination fee, which covers the cost of processing the paperwork for the loan
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An appraisal fee
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Charges for any inspections that might have been required by either the buyer or the lender
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Discount points - fees that are paid in return for a lower rate of interest
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Title insurance
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Title search fees, to ensure that there are no unpaid mortgages or tax liens on the property
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Recording fees, paid to the county or city
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Escrow deposits
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Underwriting fees
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Pest inspection fees
This is just an overview of some of the more common things that can make up the closing costs - it's not meant to be all-inclusive, since closing fees can vary considerably.