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What to Expect with Buyer's Closing Costs

Buying a home can have some challenges, particularly for first time buyers.  One of your biggest hurdles may be coming up with the down payment.  Another substantial cost that some buyers forget about when preparing to buy a home is closing costs.

The more you know about the home buying process and the expenses that you are likely to face, the better for you.  Closing costs are the miscellaneous fees charged by those involved with a home sale, i.e. your lender, the escrow company, the title company, etc.  Closing costs can run anywhere from about 2% up to about 3.5% of the total sale price of the home you are buying.

Closing costs are separated into two categories: non-recurring closing costs and recurring costs. Below are lists of both the non-recurring and the recurring closing costs that you may have to pay in California: 

Non-Recurring Closing Costs

  •   Title insurance
  •   Escrow fees
  •   Notary fees
  •   Wire transfer fees
  •   Courier fees
  •  Items that you will have to pre-pay - such as interest
  •   Home inspection (typically paid at the time of the inspection)
  •   Recording Fees (local fees)
  •   Credit check
      Document Preparation
  •   Appraisal Fees (typically paid for prior to the appraisal)
  •   Transfer Fees (county/city)
  •  Fees associated with your loan
    • Loan origination fees
    • Application and/or processing fees

Recurring Closing Costs

  • Property taxes
  • Private mortgage insurance (you shouldn’t have this expense if you are paying 20% down or more)
  • Homeowners insurance

 This is not a complete list.  There may be other closing costs that you will have.  It is dependent upon each individual situation  (what is customary in the area and what you have negotiated with the seller). 


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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.