{"id":132993,"date":"2021-03-16T00:00:31","date_gmt":"2021-03-16T04:00:31","guid":{"rendered":"https:\/\/www.ewmrealestate.com\/blog\/?p=132993"},"modified":"2021-03-16T11:55:13","modified_gmt":"2021-03-16T15:55:13","slug":"how-much-are-closing-costs-plus-how-to-reduce-closing-costs","status":"publish","type":"post","link":"https:\/\/ewmrealestate.com\/blog\/how-much-are-closing-costs-plus-how-to-reduce-closing-costs\/","title":{"rendered":"How Much Are Closing Costs? Plus: How to Reduce Closing Costs"},"content":{"rendered":"

\"\"<\/p>\n

When you get a\u00a0mortgage<\/a> to buy a home, you’ll have to pay closing costs: These fees, paid to third\u00a0parties to help facilitate the sale of a home, typically total 2% to 7% of the home’s purchase price. So on a $250,000 home, you can expect the amount to run anywhere from $5,000 to $17,500.<\/p>\n

Now that you have a sense of the ballpark numbers, here’s everything home buyers and home sellers need to know about closing costs.<\/p>\n

Who pays closing costs, and when?<\/h2>\n

After saving up to purchase a new home, getting pre-approved, and making a down payment, it’s hard for buyers to accept that they’ll have additional out-of-pocket expenses. Some good news, then, is that both buyers and sellers typically pitch in to cover closing costs, although buyers shoulder the lion’s share of the load (3% to 4% of the home’s price) compared with sellers (1% to 3%). And while some expenses must be paid upfront before the home is officially sold (e.g., the home inspection fee when the service is rendered), and others, like property taxes and homeowners insurance, are recurring, most are paid at the end when you close on the home and the keys exchange hands.<\/p>\n","protected":false},"excerpt":{"rendered":"

When you get a\u00a0mortgage to buy a home, you’ll have to pay closing costs: These fees, paid to third\u00a0parties to help facilitate the sale of a home, typically total 2% to 7% of the home’s purchase price. So on a $250,000 home, you can expect the amount to run anywhere from $5,000 to $17,500. Now<\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":6964,"featured_media":130092,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"saved","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[12189],"tags":[],"yoast_head":"\nHow Much Are Closing Costs? Plus: How to Reduce Closing Costs - BHHS EWM Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ewmrealestate.com\/blog\/how-much-are-closing-costs-plus-how-to-reduce-closing-costs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Much Are Closing Costs? 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