Closing Costs


Definition of "Closing costs"

Bob Bracken
  Comey & Shepherd City

Fees and expenses incurred by a homeowner in negotiating and financing the acquisition of a home and paid at the closing. Closing costs include the loan, loan origination fees, points, title search and insurance, appraisal charges, and other miscellaneous costs such as mortgage taxes and credit reports.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Licensed Carrier

Insurance company that is organized under the state laws by which the company is licensed and that i ...

Defective Title

Flaw in an otherwise proper title. A title obtained through error or fraud without proper signature ...

Schedule E

Schedule which is part of Form 1040 showing income or loss from real estate transactions including n ...

Concrete Block

Hollow building block whose dimensions are 8 x 8 x 16. Concrete blocks are widely used in the constr ...

Riot And Civil Commotion Insurance

Coverage for damage to property resulting from riot or civil commotion. Riot is defined by most stat ...

Superior Good

Condition in which life insurance sales increase at a rate greater than the general rate of growth o ...

Related Real Estate FAQ

What Is A Point?

A point is equal to 1 percent of a loan amount. Lenders charge points in exchange for lowering the i ...

What Is Cooperative?

Cooperative is a form of home ownership in which you own shares in a corporation. In return for the ...

What Are My Coverage Options?

Our agents have a wide range of coverages available, as well as an array of choices for limits and d ...

What Is An Interest Rate?

An interest rate is the percentage the lender charges you for borrowing money. ...

What Is Title Insurance?

Title insurance is insurance that protects the lender and buyer against any losses incurred from dis ...

What Do I Need To Know About Term Life Insurance?

Provides financial protection for a limited, specified period of time, at a lower cost than permanen ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

How To Get A Loan with Bad Credit What is Escrow and how does it Work? Home Prices - The Extra Costs Getting Ready to Sell? Don't make these DIY Mistakes! Tax Breaks for the First Time Home Buyer

FAQ

What are the benefits of Business Owners Insurance? What is a debt-to-income ratio? What do I need to know about Whole Life Insurance? What is homeowners association (HOA)? What is an agent?