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Understanding title & closing costs

Buying a home involves more than looking at houses and choosing a mortgage. Let's break down the "closing costs" associated with your purchase. Closing costs usually account for 2 to 5 percent of a home’s sale price, although they may be more or less in some cases. These costs typically cover: Obtaining a credit report Processing paperwork for the loan (loan origination fees) Legal fees Home inspections Appraisals Surveys Title insurance Title searches An escrow deposit Recording the transaction in the city or county’s records Underwriting the mortgage (evaluating the borrower and...Continue Reading >

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