Home Buying Worksheet: Track Closing Costs

Be prepared and know who’s responsible for the variety of fees and expenses at the closing table.

Down payment      
Loan origination      
Points paid to receive a lower interest rate      
Home inspection      
Credit report      
Mortgage insurance premium      
Escrow for homeowner’s insurance
(if paid as part of the mortgage*)
Property tax escrow

(if paid as part of the mortgage*)

Deed recording      
Title insurance policy premiums      
Land survey      
Notary fees      
Home Warranty      
Proration** for your share of costs

(such as utility bills and property taxes)


*Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.

** Because such costs are usually paid on either a monthly or a yearly basis, you might have to pay a bill for services used by the sellers before they moved. Proration is a way to even out bills sellers may have paid in advance, or that you may later pay for services they used.


Reprinted with permission from National Association of Realtors/Realtor Magazine (RealtorMag.Realtor.org)

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