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)

Title Charges

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.