How Much Money Do I Need for Closing on My Property

What are closing costs? These are the fees required in order to get a loan or perform the closing, in the case that the buyer is paying cash, to close the amount of your down payment. These fees are also the administrative costs associated with buying a home. We’ve listed the most common ones below.

Title Insurance

• This insurance is purchased so you can ensure you are receiving a free and clear title with no third parties to claim or contest your legal ownership of the property.

Private Mortgage Insurance

• If you’re buying a home, but putting down less than 20%, you’ll likely be charged for this. In most cases, this will be due at the time of closing.

Appraisal Fees

• Your home truly has no value… we know. It actually does have value and an appraisal with a professional will ensure your home’s value, and your loan’s amount.

Origination Charges

• Your lender will be charging you to originate and process your loan, this should include application and processing fees.

Attorney’s Fees

• This is fully dependent on where you live, but an attorney may be required to transfer the property’s title.

At Gables Title Group we work with you to ensure you’re taken care of and ready to go from contract to closing.