You’ve found the perfect home on Signal Mountain and the mortgage loan with the best interest rate you can find. What’s next in the home buying experience? Signing the contracts and paying the closing costs. But what exactly are closing costs? Here is a list of the most common closing costs:

• Titling Fees- These include the title search and title insurance, and the associated attorney fees. These costs are usually paid by the seller but can be assigned to the buyer.

• Recording Fees- The government charges a fee to record the change in ownership of the Signal Mountain Real Estate.

• Survey Fee- This can be required by the lender. It is a fee for the survey of the land or lot, and its structures, to determine that it matches the property description.

• Mortgage Application Fees- Are occasionally included in closing costs, but usually are paid prior to closing by the buyer.

• Appraisal and Inspection Fees- Are required by the lender to ensure that the value of the property is equal to that of the loan, and to make sure there aren’t any underlying problems that detract from the property value. These fees are usually paid by the buyer.

• Points- Equal to one percent of the principal of the loan. These discount points are paid by the buyer to the lender to reduce the final interest rate of the loan.

• Brokerage Commission- The seller pays the real estate agent this fee for listing and showing the property, and handling the contract negotiations. The commission is usually a percentage of the sale price of the property, and determined in advance by the seller and the real estate agent.

• Underwriting Fees- The buyer pays underwriting fees to the lender to pay for the costs of determining if the buyer qualifies for the mortgage loan.

• Property Tax- County taxes are usually required to be paid for six months in advance at the time of closing. The buyer is responsible for these fees.

If you’re thinking of buying Signal Mountain Real Estate, give me a call. I’m an expert in this area and know where to find the great buys. Call me today at 423-488-1882 or email me at

KEYWORD: Signal Mountain Real Estate
Discount points:

Travis Close ABR, e-PRO, Ecobroker