What do I Have to Pay for at Closing?

Closing costs simply refer to the expenses and fees associated with the purchase of your home. 

In the excitement of deciding to purchase a home you may easily lose track of the fact that you are going to need to have some serious cash on hand for your closing costs. Many people make the mistake of only assuming they need the down payment money, and then they have to rush around town trying to come up with the cash for the closing costs.

Two of the main expenses you have to have on hand are inspection and appraisal. This expenses are incurred during the first part of the purchase process. Make sure you have money set aside for these.

Nonetheless, most of the expenses and fees are incurred right before sitting at the closing table. Is at this point when everything is put in place to give you the keys of your new home. 

But before that, here are the main expenses and fees that you need to budget for to have available at closing: