Know Your Numbers
What are all the fees in a mortgage?
Closing costs are the part nobody explains up front. Here is a plain-language breakdown of what they are, roughly what they run, and which ones you can shop for.
The short version
Beyond your down payment, closing costs typically run somewhere in the range of 2–5% of the loan amount. They fall into a few buckets: lender fees, third-party services, and prepaid items like taxes and insurance.
What the fees actually cover
- Lender fees — things like an origination or underwriting charge.
- Appraisal — an independent estimate of the home’s value.
- Title & settlement — title search, title insurance, and the closing itself.
- Prepaids & escrow — property taxes and homeowners insurance collected up front.
- Recording & government fees — the cost of officially recording the sale.
Which ones you can shop for
Some fees are fixed, but others — like title services — you are allowed to compare. Your Loan Estimate labels exactly which costs you can shop for, so you are never guessing.
A quick example
An illustration, not a quote: on a $350,000 loan, closing costs in the 2–5% range would land somewhere around $7,000 to $17,500 depending on the loan, the property, and your location. Seeing the itemized list ahead of time is how you avoid surprises.
Every figure here is an example to show how the pieces fit — not an offer, quote, or guarantee. Your actual costs depend on the loan, the property, and current rates.
Want to see the real itemized list? That is fair.
There are no dumb questions here. You are entitled to see every fee, in plain numbers, before you commit to anything.
Want to know where you actually stand?
No credit pull to start. No pressure. Just a clear read on your numbers.