-
Home
-
Resources
-
Client Education
-
Real Estate Terms
- Closing Costs
Closing Costs
Glossaries
Term | Definition |
---|---|
Closing Costs | Closing costs are separated into what are called "non-recurring closing costs" and "pre-paid items." Non-recurring closing costs are any items which are paid just once as a result of buying the property or obtaining a loan. "Pre-paids" are items that recur over time, such as property taxes and homeowners insurance. A lender makes an attempt to estimate the amount of non-recurring closing costs and prepaid items on the Good Faith Estimate, which they must issue to the borrower within three days of receiving a home loan application. Realtors should always be able to provide their customer or client with a reasonably accurate (as opposed to a lender's good faith estimate) closing cost estimate at any time. |
It All Starts Here!
Get In Touch
Go Mobile
Search All Home Listings From Your Phone
Mortgage Calculator
Do a quick check.
Total Monthly Payment:
Please enter the values above.


Real Estate Agent Contact
- PHONE - 864-630-1111
- EMAIL - home@rexandkarygalloway.com
- ADDRESS - 20 Overbrook Ct, Suite 400, Greenville, SC 29607