Over Half of Buyers Are Surprised by Closing Costs
More Than Half of All Buyers Are Surprised by Closing Costs
According to a survey conducted by ClosingCorp, over half of all home buyers are surprised by the closing costs required to obtain their mortgage.
After surveying 1,000 first-time and repeat home-buyers, the results revealed that 17% of home buyers were surprised that closing costs were required at all, while another 35% were stunned by how much higher the fees were than expected.
“Home-buyers reported being most surprised by mortgage insurance, followed by bank fees and points, taxes, title insurance and appraisal fees.”
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