A breakdown of the actual closing costs will also be available on the Closing Disclosure that you receive for review three business days before your scheduled closing.

Here are some common fees you may see on your Closing Discosure:

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  Origination fee payable to the lender for originating the loan
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  Document preparation fee payable to the title company for drafting conveyance documents, like the deed and mortgage
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  Appraisal fee to determine the property’s value
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  Survey fee to determine the property’s boundaries
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  Title search and title insurance to insure the lender’s security interest in the property
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  Flood certification to determine if the property is located in a flood zone
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  Property taxes to local government agencies
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  Attorney fees for conducting the loan closing