Closing costs are fees paid at the closing of a real estate transaction. This point in time called the closing is when the title to the property is conveyed (transferred) to the buyer. Closing costs are incurred by either the buyer or the seller.
Sample Closing Cost Chart
This chart shows estimated costs for a $250,000 conventional loan. Your costs will likely look a lot different based on loan type, loan amount, and your geographical area.
| Item | Fee |
| Loan Origination Fee | $2,500 (1%) |
| Discount Fee | $625 (0.25%) |
| Processing Fee | $450 |
| Underwriting Fee | $500 |
| Wire Transfer | $25-$50 |
| Credit Report | $35 |
| Tax Service | $50 |
| Flood Certification | $20 |
| Title Insurance | $550 |
| Escrow/Signing | $450 |
| Courier Fee | $20 |
| Appraisal | $450 |
| Recording | $110 |
| Homeowner’s Insurance first year premium | $700 |
| 6 Months’ Property Tax Reserves |