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You’ve found the perfect house and you’re going to buy it.

All you need to do now is show up at closing with your down payment, right?


Closing on a home comes with additional costs - most to pay others for their work or for things like insurance.

Experts say these closing costs can be 2% to 5% of your home’s price. That’s $2,000 to $5,000 on a $100,000 home.

These costs cover things like:
  • A home appraisal.
  • Homeowner, title and private mortgage insurance.
  • Appraisal, escrow, credit report, document prep, recording, and other fees.
  • Property taxes.

And even if they’re not required, you should strongly consider paying for home and pest inspections so you’re not hit with unexpected expenses.

While you might be able to negotiate with the seller to pick up some or all of the closing costs, you need to be aware that you might have to pay this extra money yourself.

There also are possibilities to include closing costs in the mortgage. Check with your lender to see what those options are and how they would affect your monthly payment.

To learn about closing costs, talk with one of our knowledgeable experts.

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