What Are Closing Costs?
Closing costs are charges paid to various entities during
the real estate transaction. They can include escrow fees,
document preparation fees, cost of an inspection and lender
fees.
What Is
A Point?
A point is equal to one percent of the loan principal.
Some lenders charge points, in addition to interest
and fees, at closing.
What Is
Title Insurance?
Title insurance protects against loss from any defects
in the legal title, liens against the property or other
adverse claims. The lender usually requires title insurance.
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