What are closing costs, and how do I compare them?

Closing costs can include lender and broker charges, appraisal fees, title and settlement charges, recording fees and other transaction expenses. Prepaid interest, insurance and escrow deposits may also affect the cash needed at closing. Costs vary by loan, location and service provider; there is no universal amount.

Fundsitive LLC can help explain the Loan Estimate and compare options using consistent assumptions. For covered mortgages, the Closing Disclosure shows final terms and costs before closing. Compare the rate, APR, points, lender credits and total cash to close—not just a headline payment. Ask which fees are fixed, which services you may shop for and how broker compensation is disclosed.