Buyers Closing Costs
The following are costs typically paid by the buyer at a home closing:
Contract Sales Price
This is the price the buyer has agreed to pay the seller for the home.
Items Payable in Connection With Loan
Loan origination fee, loan discount points, recording fees, credit report, appraisal fee, survey, flood certification letter, and any other loan costs required by the lender.
Government Recording and Transfer Charges
Documentary tax on mortgage ($0.35 per $100 of loan), intangible tax on note ($0.20 per $100 of loan)
Closing fee, title search, title insurance for buyer and lender, notary fees, attorney fees, and documentation preparation fees.
Escrow or Reserve Items
Prepaid interest, taxes, hazard insurance, mortgage insurance, homeowner association dues, property taxes, and flood insurance.