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Mortgage glossary
Closing Costs
Costs connected with getting the loan and completing the property transaction. They may include lender charges, appraisal, title services, recording fees, taxes, insurance, and prepaid amounts. The total varies, and the Loan Estimate and Closing Disclosure provide details for covered loans.
In plain language
This term may appear in conversations, forms, or documents during the mortgage process. If something important changes in your situation, ask how it may affect your case before making a decision.
This explanation is general and educational. It is not personalized advice, a loan offer, or a promise of approval.