06/02/2026
When preparing to buy a home, the down payment is only one part of the upfront costs to plan for.
Homebuyers may also need to prepare for closing costs, prepaid expenses, escrow deposits, title-related fees, government fees, and other expenses associated with the purchase of a home. Some costs are typically paid at closing, while certain ongoing expenses, such as property taxes and homeowners insurance, may be included in your monthly mortgage payment if an escrow account is used.
Your loan originator can provide a detailed explanation of the costs associated with your purchase and help you understand what to expect. Be sure to also ask whether any seller incentives may be available to help cover eligible closing expenses.
Understanding these costs early can help you prepare more confidently and avoid last-minute surprises.
Learn more from the Consumer Financial Protection Bureau: Mortgage Closing Costs – https://www.consumerfinance.gov/ask-cfpb/what-costs-come-with-taking-out-a-mortgage-en-153/
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