Step 7: Closing Costs.

Closing costs vary from lender to lender, the amount of time attorneys are involved in the transaction, state transfer taxes and even the type of loan. Some of the costs at closing are not costs associated with getting the loan but rather are prepayments for services.

If you are short of cash to pay for these expenses, ask during contract negotiations (i.e. when making an offer) whether the seller will absorb some or all of your closing costs.

Here are the closing fees and costs:

• Appraisal fee
• Attorney's fee
• Credit report fee
• Document preparation fee
• Escrow fees
• Flood certification fee
• Homeowners insurance
• Homestead Act fee
• Inspection fees
• Loan application fee
• Loan origination fee
• Mortgage insurance
• Overnight mail/delivery fees
• Pest/termite inspection fee
• Points
• Property taxes
• Recording fees
• Reserves
• Survey fee
• Tax service fee
• Title insurance
• Title search fee
• Transfer taxes
• Underwriting fee