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Estimated Closing Cost Summary for Buyers

Example 1: Assuming a sale price of $2.0 million and 75% financing, closing costs may be approximately $50,000- $60,000, which assumes $20,000 in mansion tax, 1.05% of the mortgage amount in mortgage tax and .7% of the purchase price in title insurance plus additional fees and expenses.
Example 2: Assuming a sale price of $800,000 and 75% financing ,closing costs may be approximately $15,000-$20,000, which assumes no mansion tax, 1.05% of the mortgage amount in mortgage tax and .7% of the purchase price in title insurance plus additional fees and expenses.

The above examples are for illustrative purposes only. Please consult White Horse Mortgage or your lender for a "Good Faith Closing Cost Estimate." Information herein is deemed accurate but not guaranteed.
Other Items
Real Estate Taxes that are due within 60 days of closing must be paid at closing.

In addition to the above costs, it is very typical to have additional monies held in escrow.
You should review these with your mortgage broker as well.

A survey is needed. If the existing survey is acceptable the cost is approximately $100.
A new survey can cost between $1,000 - $2,000.

In This Section

• Closing Timeline/Checklist
• Estimated Closing Cost Summary for Buyers

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