Average Closing Cost Amounts
Calculate your Closing Costs!
Closing Costs (U.S. Average)
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Origination Fees
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Closing Costs
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Average Charge*
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Description
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Points ($)
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$1,043
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Fees lender’s charge upfront in exchange for a
lower interest rate, with each point equaling 1%
of the amount of the loan. Typically, the more
points paid up front, the lower the interest rate
on the loan.
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Application fee
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$250
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It is not at all uncommon for lenders to charge an
application fee. Negotiable.
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Commitment fee
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$371
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Banks term for underwriting fee. Fee charged to
have your loan reviewed by an underwriter. Also
known as a “junk” fee. Negotiable.
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Document preparation
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$291
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Covers the preparation of final legal documents,
essentially a way to extract more money from
the borrower and put a label on it. Negotiable.
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Mortgage broker, origination
or lender fees
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$779
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Fees charged by brokers to arrange the
financing of your mortgage. This is justified by
representing you and finding you a competitive
rate. Negotiable.
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Processing
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$386
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Much like the underwriting fee, this cost is
associated with processing your loan.
Negotiable.
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Tax service
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$67
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Issue tax certificates showing current years
taxes, when they were paid last, and any
delinquencies. Negotiable.
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Underwriting
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$201
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Fee charged to have your loan reviewed by an
underwriter. Also known as a “junk” fee.
Negotiable.
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Wire transfer
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$16
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Fee to get money from the lender to the
borrower. Negotiable.
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Closing Costs
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Average Charge*
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Description
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Appraisal
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$343
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The lender will require an appraisal from an
independent appraiser.
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Attorney, closing or settlement
fee
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$362
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Fees paid to an independent attorney for
reviewing the closing papers.
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Credit report
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$22
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Just about all lenders make this fee a
mandatory one.
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Flood certification
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$14
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Service that tells the lender whether the property
is in a flood area or not. This could trigger the
need for flood insurance.
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Pest and other inspection
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$60
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An examination of property for things like,
termite inspection, and whether required
changes were made prior to funds being
disbursed.
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Postage / courier
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$35
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Fees associated with the delivery of documents.
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Survey
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$144
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Not all lenders require a survey.
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Title insurance
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$663
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The lender will most certainly require title
insurance to guarantee the title, regardless of
what the title work turns up.
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Title work: Title search, plat
drawing, name search,
endorsements
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$196
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Title work is conducted to make sure there are
no unpaid mortgages, defective title or tax liens.
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Total average fees
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$3,024
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Based on a $200,000 loan amount. U.S.
average* total closing costs. Some fees are
omitted from the total, as not all lenders charge
for each and every item.
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