Sep 29 (edited) • General discussion
Unpacking Buyer Closing Costs in California
Closing costs for a home buyer typically range from 2% to 5% of the home’s purchase price. These costs vary based on location, loan type, and home price.
Below is an estimated breakdown of common closing costs for buyers (fees may vary):
- Loan Origination Fees: ~0.5% to 1% of the loan amount. Covers lender processing and underwriting.
- Appraisal Fee: $300–$800. Required by lenders to confirm the home’s value.
- Home Inspection Fee: $300–$500. Optional but recommended to check for property issues.
- Title Insurance: $500–$2,000. Protects against ownership disputes (buyer typically pays lender’s policy).
- Title Search/Settlement Fees: $200–$400. Ensures clear title transfer.
- Escrow/Closing Agent Fees: $500–$1,500. Covers transaction coordination.
- Property Taxes: Varies; often 1–6 months prepaid at closing.
- Homeowners Insurance: $300–$1,000 upfront (first year’s premium).
- Mortgage Points (Optional): 1 point = 1% of loan amount; pays to lower interest rate.
- Survey Fee: $150–$400 (if required). Confirms property boundaries.
- Government Recording Fees: $50–$200. For recording the deed and mortgage.
- HOA/Condo Fees (if applicable): Prorated dues or transfer fees, $100–$500.
- Negotiations: Some costs (e.g., title insurance) may be split with or covered by the seller.
If you have a specific location or home price in mind, I can search for more tailored data—let me know!
1
1 comment
Unpacking Buyer Closing Costs in California
skool.com/ready-set-own-2711
Ready, Set, Own is your go-to home buying hub, offering step-by-step guidance, expert tips, and community support from search to closing.
Leaderboard (30-day)
1
+1
2
+1
3
+1
Powered by