How much
Typically about 2% to 5% of the loan amount, but it varies widely by state, lender and loan type. Your Loan Estimate shows the lender’s estimate within three business days of applying.
The main parts
| Group | Examples |
|---|---|
| Lender fees | Origination, underwriting, points |
| Third-party services | Appraisal, credit report, title search, title insurance, survey |
| Government fees | Recording fees, transfer taxes in some states |
| Prepaid items | Homeowners insurance premium, prepaid interest, property tax deposits into escrow |
How to pay less
- Compare Loan Estimates from several lenders.
- Shop for services the Loan Estimate says you can shop for, such as title services in many states.
- Ask the seller for a closing cost credit in your offer.
- Check state and local assistance programs.
Estimate yours with the closing cost estimator.
