Your down payment isn’t all you’ll need to buy a home. You’ll need to be able to cover these closing costs, too.


When you buy a home, how much should you budget for in closing costs? These costs are made up of three components: Lender fees, title fees, and prepaids. These include fees for underwriting, mortgage origination, escrow fees, and more.

You’ll also have to pay one year of homeowners insurance up front and fund the escrow account for your mortgage. Typically, these costs will range anywhere from 2% to 3% of the home’s purchase price, but can vary.

If you have any questions or you’re thinking of buying or selling a home, please give me a call or send me an email. I’d be happy to meet with you.