average closing costs on a home

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Bankrate gathered data on closing costs from lenders throughout the U.S. Click on your state for a fee-by-fee breakdown of the average closing costs for a mortgage.

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Closing costs are the extra expenses that buyers and sellers pay on top of the purchase price at settlement of a real estate transaction. Closing costs include mortgage origination fees, discount points, appraisal fees, and more. Average closing costs on the median home sales price of $230,000 are 2 percent to 5 percent, or $4,600 to $11,500.

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Mortgage closing costs are a big part of buying or refinancing a home. Here are the average closing costs for each type, and what you can do to pay as little as possible.

While some of the figures provided are still estimates, it is illegal for lenders to deliberately underestimate the fees and costs outlined in your Loan Estimate. Additionally, while some costs can change from the Loan Estimate to closing under certain specified circumstances, there are costs that cannot be increased.

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What are closing costs and how much are they? | Knoxville. – A lot of knoxville home buyers ask me, “what are closing costs and much are they?”. I found this information on Zillow and thought it was a good summation of what you are paying for and/or asking a seller to pay for on your behalf.

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