Typical Home Closing Costs

expenses related to home closing

When purchasing your first house it is important to know what to expect when it comes to typical home closing costs. During this time typically a good amount of money is being moved around typically 2-4% of the property cost. Consider the following expenses related to home closing costs.

Typical Home Closing Costs

  1. Down Payment
  2. Loan Application & Credit Report
  3. Loan Processing Fee
  4. Survey of Property
  5. Title Fees
  6. Attorney Fees
  7. Recording
  8. Transfer Taxes
  9. Home Inspection
  10. Points
  11. Prepaid Interest
  12. Escrow
  13. PMI
  14. Appraisal

Ask your lender for a copy of your Good Faith Estimate (GFE). The GFE will have a summary of all your closing costs and will tell you how much money you need to bring to closing. Use the Good Faith Estimate as a guide to your typical home closing costs in the beginning as these numbers may change leading up to the home closing. If you would like more information on Typical Home Closing Costs or on your Good Faith Estimate contact your lender or local Realtor.

After Closing on a Home

So you've closed on your home, now what? Here you will find information on what to do after closing on a home. Use this guide to help you know what to do after the home buying process is complete.

  1. File your important paper work from the home closing in a safe place. These will come in handy during tax time
  2. Don't forget to file for home owner’s exemption if you are going to be living in the home and it is your primary residence. If you are over the age of 65 be sure to apply for senior citizen homestead exemption
  3. Change your address with banks, creditors, doctors and tell friends, family and business associates about your move
  4. Update your drivers license
  5. Update your voter registration
  6. Change the locks on your new home
  7. Get acclimated to your new surroundings and introduce yourself to your neighbors
    8. If you haven't already done so...
  8. Start packing and/or get moving
  9. Be sure to change your address with the postal office
  10. Set up your utilities

For more information what to do after closing on a home contact your local Realtor or ask your friends and family. Don't forget to check out our frequently asked questions section of the website to learn more about the home buying process for first time home buyers.

what to do after closing