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Kinds of Closing Costs

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Closing costs fall into three categories:

  • Costs related to getting your mortgage
  • Costs related to transferring ownership of the property
  • Government taxes and fees

Take closing costs into account when you decide what to offer for a home. And remember that many of these fees are negotiable; a seller eager to close a deal may kick in some money toward closing costs. It never hurts to ask.

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  • Shopping on the Internet

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  • Working with a mortgage broker

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  • Do the paperwork

    Read on to learn about the paperwork involved in a typical loan application.