Buying & Selling in Today's Market | Episode I: Closing Cost Credits

What are closing costs for buyers?

Buying a home involves more money out-of-pocket than just the down payment. Buyers also need money to pay for closing costs, which are used to pay for items such as title policies, recording fees, inspections, , escrow fees and fees that a lender charges.

Non-Recurring Buyer Closing Costs

Buyer's closing cost fees that are paid once and never again are called non-recurring. These fees are one-time charges for such items as:

Recurring Buyer Closings Costs

Recurring fees are those buyer's closing costs that you will pay again and again. They are often fees collected in advance of closing for prepaid premiums and establishing impound/escrow accounts. They include such fees as:

We have a blog post on the Escrow process and other buyer costs, here.

Jess Hux