How much will I pay in Closing Costs for my new home?
Closing costs are approximately 1.5%-2% of purchase price.
There are a variety of charges that are due on closing which may consist of:
- Legal Fees and Disbursements
- Mortgage Insurance
- Property Tax and Prepaid Utilities Adjustments
- Property Appraisal
- Land Transfer Tax
Each situation varies. For this reason, your lawyer will discuss with specifics of your closing costs with you personally.