When buying or refinancing a home, you’ll encounter mortgage closing costs – fees and expenses required to finalize your loan. These costs cover essential services like loan origination, appraisal, title insurance, and escrow. They vary based on factors such as loan type, lender, and location. How Much Are Mortgage Closing Costs? Closing costs typically range from 2% to 5% of a home’s purchase price. For example: On a $300,000 home, expect to pay $6,000 to $15,000 in closing costs. On a $500,000 home, costs may range from $10,000 to $25,000. Common Closing Costs Breakdown Here’s a closer look at the...