What is closing costs?
Closing costs are the fees and expenses, beyond the price and down payment, paid to complete a real estate purchase or refinance.
In practice
- They can include lender fees, appraisal, title insurance, recording fees and prepaid taxes and insurance.
- Lenders list estimated closing costs on the Loan Estimate and final costs on the Closing Disclosure.
General information, not legal, tax or financial advice. Rules vary by state and MLS.
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More real estate glossary
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