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.