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Buyer Closing Cost

Thinking of buying a home in the Charlotte or surrounding areas? Wondering how much money you should be saving and putting aside for closing costs?

Below is an estimated breakdown of the closing costs and the amount you should expect to pay. Based on the type of loan you get, your down payment, and the purchase price of your home, these amounts will change; therefore, it is especially important to check with your lender and closing attorney for the final numbers.

Buyers Estimated Closing Costs

LENDERS FEES FEES DESCRIPTION
Lenders Service Fee $900-$1400 Covers the cost of underwriting services & processing; cost to do the loan.
Appraisal $400-$500 Varies based on the property type
Credit Report $20-$75
Flood Certification $9-$12
Tax Transfer Fee $10-$12
PREPAID ITEMS FEES DESCRIPTION
Daily Interest Varies Interest the mortgage company charges you from the day of closing until the end of that month
Hazard/Property Insurance Varies Home Owners Insurance; protection of your home against damages
Property Taxes Varies
Mortgage Insurance Varies Only applies to certain loans. Protects lenders from the risk of default/foreclosure
OTHER FEES FEES DESCRIPTION
Attorney Fees $600-$1300
Title Search $75-$100
Title Insurance Varies Fee for the lender’s title policy, insuring the lender’s lien position.
Deed and Mortgage Recording $26-$150
ADDITIONAL/OPTIONAL FEES FEES DESCRIPTION
Home Inspection $300-$1000+ Based on the property.
Pest/Termite Inspection $75-$125 Based on the Property.
Septic Inspection $300-$500
Well Inspection $100-$300
Water Test $100-$200
Radon Test $200+
Survey Varies Based on the property.
HOA Transfer Fees Varies Based on the property and if it is in an HOA community.

This information is provided without obligation or guarantee and is not meant to be a Good Faith Estimate. It is for informational purposes only.

**Please note these are estimates and we cannot be held liable for any errors.**

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    Crystal King

    Crystal King Broker in Charge

    NC Broker / Realtor®

    704-533-9387
    crystal@castlegategroup.com

    18119 W.Catawba Ave, Cornelius,
    NC 28031

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