Closing costs vary from lender to lender, title company to title company, and mortgage broker to mortgage broker. The following information will try to explain in a general format the basic closing costs associated with a mortgage. Cost will be broken into two categories, non-recurring and recurring fees. Non-recurring fees are fees that only show up once when you get a loan. This explanation will break up the non-recurring fees as lender fees and title fees. In this way you can see who is charging what and what to look out for. After the loan closes you will not see these charges again until you apply for another loan. Recurring fees are fees that you see monthly, but are actually charged to you daily, such as interest on the loan, property taxes, homeowner association fees, and homeowner insurance.
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