Lender-related costs
Depending on the transaction, these may include underwriting, processing, origination, discount points, appraisal, credit, and other loan-related charges.
Closing costs
Know what sits between the purchase price and cash to close.
Closing costs are separate from the down payment and can include lender, title, escrow, government, insurance, tax, and prepaid expenses.
Title and escrow
Title insurance, settlement, escrow, recording, and related services vary by transaction and location.
Prepaid interest
Interest may be collected from closing through the beginning of the first full payment period.
Taxes and insurance
Property taxes, homeowners insurance premiums, and initial escrow deposits may affect cash to close.
Credits
Seller credits, lender credits, or other permitted credits can reduce certain costs but may affect price or loan economics.
Final disclosure
Your formal Loan Estimate and Closing Disclosure are the documents used to review actual loan costs.
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