Track Closing Costs

Be prepared and know who’s responsible for the variety of fees and expenses at the closing table.
 

 

BUYER COST

SELLER COST

OTHER

Down payment

____________

____________

____________

Loan origination

____________

____________

____________

Points paid to receive a lower interest rate

____________

____________

____________

Home inspection

____________

____________

____________

Appraisal

____________

____________

____________

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.