Breakdown of Closing Costs

Understand the Costs Associated withr
Buying or Selling a Home

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For Buyers

For Sellers

For Buyers

For Sellers

Understand the Costs Associated with
Buying or Selling a Home

At Home Connect, we believe in transparency. It’s essential to understand all the costs involved in a real estate transaction, whether you’re buying or selling a home. This page provides a detailed breakdown of the typical costs you can expect.

Cost Item

Description

Estimated Cost

Home Connect Fee

Tailored customized flat rate

Request Customized Flat Rate

Loan Origination Fee

Charged by the lender for processing the loan application.

0.5% - 1.5% of loan amount

Escrow

Handling all real estate paperwork and preparing for closing

$2.50 for every $1,000 plus a flat fee. Rates may vary

Staging Costs

Designing and decorating your property to maximize offers and purchase price

Varies by property

Home Repairs

Repairs made prior to listing property or requested from buyer after conducting a home inspection

Varies by property

Property Taxes

Annual taxes levied by the local government, often prorated at closing.

Varies by location

Title Insurance

Protects against potential legal issues with the property’s title.

$1,000 - $2,000

Recording Fees

Charged by the local government to record the property transaction.

Varies by location

HOA Fees

If applicable, fees charged by a homeowner’s association.

Varies by community

For Sellers

For Buyers

For Sellers

For Buyers

Cost Item

Description

Estimated Cost

Home Connect Fee

Tailored customized flat rate

Request customized flat rate

Down Payment

The upfront payment made when purchasing a home.

3% - 20% of purchase price

Loan Origination Fee

Charged by the lender for processing the loan application.

0.5% - 1% of loan amount

Escrow

Handling all real estate paperwork and preparing for closing

$2.50 for every $1,000.00 plus a flat fee. Rates may vary.

Home Inspection Fee

Paid for a professional home inspection to identify potential issues.

Varies by location

Mortgage Insurance (PMI)

Required if the down payment is less than 20%.

0.3% - 1.5% of loan amount

Property Taxes

Annual taxes levied by the local government, often prorated at closing.

Varies by location

Homeowners Insurance

Protects against damage to the property and liability.

Varies by property

Title Insurance

Protects against potential legal issues with the property’s title.

$1,000 - $2,000

Recording Fees

Charged by the local government to record the property transaction.

Varies by location

HOA Fees

If applicable, fees charged by a homeowner’s association.

Varies by community

Understanding Closing Costs

Closing costs are fees associated with the finalization of a real estate transaction. They typically include lender fees, title fees, escrow, and government recording fees. Here’s a closer look at common closing costs:

Loan Origination Fee

Charged by the lender for processing your loan application.

Title Insurance

Protects you and the lender from potential legal issues with the property’s title.

Appraisal Fee

Covers the cost of a professional appraisal to determine the property’s value.

Recording Fees

Fees charged by the local government to record the sale

Explore Our Expertise

From buying to selling, we cover all your real estate needs.

Negotiate Fees

Some closing costs may be negotiable.

Consider Home Improvements

Invest in necessary repairs and improvements that can increase your home’s value and marketability.

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