Typical Buyer Closing Costs

All contracts are negotiable, and you have the opportunity to shop for the best mortgage rate & closing costs. The following are conservative estimates for closing costs & out of pocket expenses.

Upon execution of the contract:

Option Fee: $200 to $500 depending on the price of the home & credited to you at closing.
Earnest Money Deposit: 1% of the price of the home & credited to you at closing.
Home Inspection: $400 to $500 depending on the size of the property & options you select. (Sprinkler inspection, termite inspection, etc…)

At Closing:

Underwriting Fee: $425
Processing Fee: $425
Wire Fee: $35
Attorney Doc Prep Fee: $200
Appraisal Fee: $450
Credit Report Fee: $35
Tax Service Fee: $78
Flood Certification Fee: $9.50
Lender’s Title Insurance: $400
Escrow Fee: $250
Survey (negotiable between seller): $425
Recording Fee: $165
Total Closing Costs: $2897.50

Pre-Paid Expenses at Closing:

1 Year Homeowner’s Insurance Premium
Pre-paid interest from closing date to the end of the month

Escrow Establishment:

3 Months Property Taxes
3 Months Homeowner’s Insurance