Closing
The
meeting between the buyer,
seller
and lender
or their agents where the property and funds legally change hands. Also
called settlement.
Closing
costs usually include an origination
fee, discount
points, appraisal
fee, title
search and insurance,
survey,
taxes,
deed recording
fee, credit
report charge and other costs
assessed at settlement. The cost of closing usually are about 3 percent
to 6 percent of the mortgage
amount.
Closing
Costs
Back
End Points
Good
Faith Estimate
Origination
Fees
Points
On Your Loan
ARM
Loans
Payments
Toward Principal
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