Twila Palmer - Westford Real Estate | Westford, MA Real Estate, Chelmsford, MA Real Estate

Closing costs vary based on the property you buy and where it is located. Closing costs will consist of several of the following items:

• Attorney’s fees • A fee for running your credit report • A loan origination fee, which lenders charge for processing the loan paperwork for you. • Title search fees, which pay for a background check on the title to make sure there aren’t things such as tax liens or unpaid mortgages listed against the property • Inspection charges required or requested by the lender or you • Discount points, which are fees you pay in exchange for a lower interest rate. • Appraisal fees • Survey fees, which covers the cost of verifying property lines. • Title Insurance, which protects the lender in case the title is not a clean title. • Escrow deposit, which may pay for a couple of months’ worth of property taxes and private mortgage insurance • Inspection fee for pests • Recording fee, which is paid to a city/county in exchange for recording the new land records • Underwriting fee, which covers the cost of evaluating a mortgage loan application