Upfront items that add up
Even before closing, there are costs many first-time buyers don’t anticipate. Budgeting early helps prevent last-minute stress.
- Inspections & re-inspections: General, sewer, roof, and specialty inspections.
- Appraisal: Required by most lenders; rush fees can apply.
- Rate lock extensions: If timelines slip, extensions may cost extra.
- Moving & immediate fixes: New locks, safety items, and essential appliances.
Tip:
Ask your lender for a worst-case fee worksheet and build a small buffer (often 1–2% of price) for unknowns.
Closing costs to watch closely
Closing costs vary by lender and location. Get quotes early and compare line items, not just the advertised rate.
Lender & title fees
- Origination & underwriting
- Credit report & flood cert
- Title search & title insurance
- Escrow/settlement
Prepaids & escrows
- Property taxes
- Homeowner’s insurance
- Daily interest
- Mortgage insurance (if applicable)
Review your Loan Estimate and Closing Disclosure side-by-side. Ask your lender to explain any changes.
Ways to offset or reduce costs
- Ask about lender credits for choosing a slightly higher rate.
- Compare multiple quotes for title & escrow where allowed.
- Negotiate seller credits to cover some closing costs (market-dependent).
- Explore first-time buyer programs and down-payment assistance in your area.
Compare competitive proposals from licensed agents-free for buyers and sellers.
*Informational only; not legal, tax, or financial advice. Program availability and credits vary by market, lender, and contract terms.