Understanding and comparing closing costs are an important part of shopping for a mortgage.
Closing costs are primarily made up of fees associated with the closing and mortgage process that are passed on to the buyer.
On average closing costs are 2-5% of the home price.
They include items such as:
Most of the closing costs are the responsibility of the buyer, however sometimes the builder or seller will contribute. Talk to your lender to get a full explanation of the costs so their won't be any surprises at closing!