Closing costs are expenses the lender and title company charge to finalize the mortgage and title transfer, including, loan origination fees, appraisal fees, title searches, title insurance, property taxes, deed-recording fees and credit report charges. Beware that not every lender charges the same for closing costs, it may range anywhere from 2-5%, so always shop around for a lender and title company. 

 

Some options for homebuyers: 

• add your closing costs into the mortgage loan.

• get quotes from a few lenders for best price ( do your research)

• negotiate to have the seller credit some towards your
closing costs.

• save additional 5% ahead of time knowing that you’re
shopping for a home. 

 

Source below is from National Association of Realtors®