What does it cost to close on a home in Washington?

Lender costs

• Loan origination or underwriting fees.
• Appraisal.
• Credit report and similar third-party fees.
• Points, if you choose to pay for a lower rate.

Title and escrow

• The lender’s title insurance policy.
• The escrow fee for handling the money and documents, which buyer and seller usually share.
• Recording fees charged by the county.

Prepaid items

• Your first year of homeowner’s insurance.
• Interest from closing day to the end of that month.
• Money to start your escrow account for taxes and insurance, if your loan has one.

Other things to budget for

Your home inspection, and a sewer scope or well and septic inspections where they apply, are paid at the time of service, before closing.

How to bring the cost down

• Seller credit. You can ask the seller to pay some of your costs as part of the offer.
• Lender credit. You can take a slightly higher rate in exchange for lower costs up front.
• Assistance programs. Some buyers qualify for help with down payment or closing costs. I check which ones fit you.

You will see your own numbers early

Once you apply, you receive a Loan Estimate that lists every cost for your loan, and a Closing Disclosure with the final figures before you sign. I go through both with you line by line.