Didn’t I already buy my house?
Kind of. While your mortgage covers the costs of the home, it doesn’t cover any miscellaneous fees that were accumulated during the “real estate transaction.” Closing costs are paid by the homeowner once the property has been transferred from the seller to them.
While costs will vary depending on the location of your real estate purchase and the type of loan you applied for, it’s a good idea to set aside around two to five percent of the purchase price of your house for closing costs.
Here is a list of everything that could be included in your closing costs:
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