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Closing Costs


You can expect to pay a number of fees when you close on your home. Closing refers to the time when you formally buy the home and transfer the title from the seller to the buyer.  The day you close is when you and the seller pay "closing" or settlement costs.  These are an accumulation of separate charges paid to different professionals associated with buying and selling of real property.

Some closing costs are negotiable.  However, in a buyer's market, where home sales are not as strong, you can sometimes negotiate with the seller to pick up a portion of these closing costs.  Closing costs on average, cost a buyer around 7% of the home's sales price.

Buyers receive a "Good Faith Estimate" of closing costs at the time their loan is submitted to the lender.  Standard closing costs one can expect to pay at closing include:

Loan-Related Costs

  • Loan Origination Fee
  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account


  • Advance Property Taxes
  • Transfer Taxes and Recording Fees


  • Homeowners Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)


For more information on calculating closing costs, you can visit the closing costs calculator.

The closing could take less than an hour but may take longer depending on the complexity of the transaction.  It usually occurs at the Title Company's Office.  At the closing you usually sign 2 main types of documents:  documents for actually acquiring the loan (loan papers) and documents for actually buying the home (the deed).

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All information provided on this website is believed to be reliable but not guaranteed and should be independently verified. Any property listing data is provided solely by the property owner and is not verified by Realty Dream Makers or any of its agents, or the broker.  Realty Dream Makers is licensed by the Texas Real Estate Commission under broker Byron Robinson License #442971


Copyright 2005-2008 Denise Frank.  All rights reserved. Denise Frank (License #0530671)-Texas Licensed Real Estate Agent


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