closing costs
Buyer's final expenses
Closing costs are the fees and expenses paid when finalizing a real estate transaction, beyond the property's purchase price.
These typically include lender fees, title insurance, appraisal costs, attorney fees, and taxes.
Buyers and sellers each pay different portions: The closing costs added another twelve thousand to what we owed.
Also called settlement costs.
Lender's upfront service cost
- appraisal feeCharge for professional valuation
- processing feeCost for handling transactions
- application feeCost to submit request
- credit report feeCost to view borrowing history
attorney fees · transfer tax · inspection fee · wire transfer fee · brokerage fee · administrative fee
Coverage against ownership defects
- title searchInvestigation of property ownership
- title companyOwnership verification business
- title agentProperty ownership verification professional
- conveyanceTransfer of property rights
Units of tally
- mortgage insuranceCoverage protecting lender from default
- loan estimateMortgage cost summary document
- good faith estimateSincere preliminary cost projection
- debt-to-income ratioPayments divided by earnings
interest rate · APR · buydown · rate lock · amortization · principal · refinancing · PMI
Last buyer visit before closing
- mobile notaryTraveling signature witness
- power of attorneyLegal authority for another's decisions
Neutral fund holding
- escrow agentNeutral party holding funds
- earnest moneyPayment showing serious intent
- prorationsProportional distribution of amounts
origination fee
Lender's upfront service cost
- appraisal feeCharge for professional valuation
- processing feeCost for handling transactions
- application feeCost to submit request
credit report fee · attorney fees · transfer tax · inspection fee · wire transfer fee · brokerage fee · administrative fee
title insurance
Coverage against ownership defects
- title searchInvestigation of property ownership
- title companyOwnership verification business
- title agentProperty ownership verification professional
points
Units of tally
- mortgage insuranceCoverage protecting lender from default
- loan estimateMortgage cost summary document
- good faith estimateSincere preliminary cost projection
debt-to-income ratio · interest rate · APR · buydown · rate lock · amortization · principal · refinancing · PMI · truth in lending
final walkthrough
Last buyer visit before closing
- mobile notaryTraveling signature witness
- power of attorneyLegal authority for another's decisions
escrow account
Neutral fund holding
- escrow agentNeutral party holding funds
- earnest moneyPayment showing serious intent
- prorationsProportional distribution of amounts
- mortgagesfixed-rate mortgage, mortgage broker, adjustable-rate mortgage, mortgage payment, mortgage insurance
- banking costsbank fees, bank charges, service fees, service charges, overdraft fees
- veteran benefitsVA benefits, VA loans, veteran benefits, GI Bill, disability benefits
- expensesexpenses, expense, expenditure, rent, bill
- housingapartments, home, house, houses, homes
- Home Buyingmortgage, downpayment, down payment, inspection, home inspection
closing costsdown payment
Initial sum toward purchase
sale proceeds · earnest money · upfront costs · deposit · net proceeds
closing costsmonthly payments
maintenance costs · property taxes · homeowners insurance · HOA dues · utility bills
closing costsdown payment
Initial sum toward purchase
principal payment · home equity · sale proceeds · investment
close, cost, costs, closed, closing, closer, enclose, disclose, closure