What are the Closing Costs?

While costs vary with each home purchase, the Lender generally requires that you have 1.5% of the purchase price available to cover these additional expenses.


What to plan for:

Legal/notary fees

How Much?

Check with your lawyer or notary for current rates. Ask for a quote in writing.

What it is.

Professional representation protects your interest in the purchase of a property. Fees and disbursements may vary based on a transaction’s complexity.


What to plan for:

Property Insurance

How Much?

Varies based on the value of the property, location and contents of the home.

What it is.

Mortgage Lenders require you to have property insurance in place when you take possession of your new home.

 


What to plan for:

Home Inspection

How Much?

$200 - $500

What it is.

A home’s clean bill of health from a qualified home inspector can provide a great deal of comfort when buying a resale or even brand new home.


What to plan for:

Moving Costs

How Much?

Variable, per hour

What it is.

Costs depend on what you can do yourself and the distance involved. Prices may be higher at the end of the month or in the summer.


What to plan for:

Service Hook-ups

How Much?

$100 - $500

What it is.

 Initial hook-up charges may apply and are determined by the utility service provider. Check with your local service providers.