Closing costs..what are they and how much will they cost you

When shopping for a new mortgage, you will have to pay a random assortment a fees called "closing costs". Every lender varies in how many fees and the price of them, so it is good to ask around before committing to one lender.

Fee-ed Up? Here are just some of the costs of closing on a mortgage.
	Fee  Average cost*  Application  $272  Appraisal  $310  Credit report  $28  Document preparation  $206  Processing  $288  Recording  $86  Underwriting  $236

*Based on a $100,000 loan. Not every lender surveyed charges all of these fees.

Source:  HSH Associates December 2003 survey of lenders

So besides paying for a home inspection and down payment, these fees will be expected to be paid at the time of closing also!

Article: http://money.cnn.com/2004/03/22/pf/yourhome/closingcosts/index.htm