What are closing costs?
The Bankrate.com financial term of the day is: "closing costs."
Have you ever bought or sold a house or condo? There's enough signing to give a person writer's cramp, and when you look at your closing statement you might see a ton of fees and charges.
The various expenses that buyers and sellers pay to complete a real estate transaction are called closing costs. They can include lender fees, title charges, such as title insurance, and government recording fees.
The sale of property can be something of a fee-for-all thanks to closing costs, all those pesky charges beyond the purchase price.
To find a great rate on a home loan, visit the Mortgage section at Bankrate.com.