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Texas Real Estate Commission Consumer Protection Notice

    What are Closing Cost?


    Closing costs are fees associated at the closing of a real estate transaction when the title of the property is transferred from the seller to the buyer. Closing costs typically range from 2-5% of the purchase price and are incurred by both parties. Here are some common closing costs:

    • A fee for running your credit report.
    • A loan origination fee, which lenders charge for processing the loan paperwork for you.
    • Attorney’s fees.
    • Discount points, which are fees you pay in exchange for a lower interest rate.
    • Survey fee, which covers the cost of verifying property lines.
    • Title search fees, which pay for a background check on the title to make sure there aren’t things such as unpaid mortgages or liens on the property.
    • Title insurance, which protects the buyer and lender in case the title isn’t clean.
    • Escrow deposit, which pays a couple months’ property taxes, homeowner’s insurance, and private mortgage insurance (PMI).
    • Prorations for your share of homeowner’s association fees.
    • Recording fee, which is paid to the county in exchange for recording the new land records.

    Lenders are required by law to give you a Loan Estimate, which will include what the closing costs on your home should be. At least three business days before closing, the lender will give you a Closing Disclosure statement, which outlines exact closing fees. This Closing Disclosure statement must be signed by the buyer the same day it is issued to avoid a delay in closing.

    Feel free to contact our team if you have any further questions.

    We are looking forward to working with you and your family in the near future

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    May God bless both of you for not giving up on me when I started to loose faith that I would never get a home. I believe that you both were sent to me as angels to help me find my home and I will always hold both of you in a special place in my heart. Thank you!!!!!!!
    Natalie Garcia | San Antonio