In addition to your mortgage application there are fees and costs associated with obtaining a new or refinanced mortgage loan that need to be remembered and budgeted for. For purchases, your lawyer will present you with an itemized breakdown of all fees and costs to complete your closing. For refinances, your lender will inform you of all costs during the application process. Together these costs are termed closing costs and include home inspection, property appraisal, property survey, title insurance, and a land transfer tax.
« Back to Glossary IndexClosing Costs
« Back to Glossary Index