{"id":25,"date":"2026-10-12T10:00:00","date_gmt":"2026-10-12T10:00:00","guid":{"rendered":"http:\/\/blogs.room-vu.com\/mrkenmortgage-com\/2026\/10\/12\/closing-costs-can-reach-5-of-your-loan\/"},"modified":"2026-10-12T10:00:00","modified_gmt":"2026-10-12T10:00:00","slug":"closing-costs-can-reach-5-of-your-loan","status":"publish","type":"post","link":"https:\/\/www.mrkenmortgage.com\/blog\/2026\/10\/12\/closing-costs-can-reach-5-of-your-loan\/","title":{"rendered":"Closing Costs Can Reach 5% of Your Loan"},"content":{"rendered":"<div class=\"video-zmyer\">\n<div class=\"video-frame-zmyer\">\n        <iframe loading=\"lazy\" width=\"640\" height=\"640\" src=\"https:\/\/www.roomvu.com\/agent\/embed\/ken-rea\/closing-costs-home-remotion-videos-dd05\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><br \/>\n        <\/iframe>\n    <\/div>\n<div class=\"video-description-zmyer\">\n<p>One thing I always emphasize with clients: closing costs are more than just a footnote on your mortgage journey. They\u2019re entirely separate from your down payment and can add up to 2%\u20135% of your loan amount\u2014not the home&#039;s purchase price. This is money due up front, covering everything from lender and property fees to legal, tax, insurance, and escrow charges. Over my 30 years in the mortgage business\u2014much of it spent helping self-employed borrowers navigate these details\u2014I&#039;ve seen buyers surprised by the list: origination and underwriting fees, appraisals, inspections, surveys, title work, attorney and recording costs, prepaid taxes and insurance, and those all-important initial escrow funds.<\/p>\n<p>Typically, buyers pick up most of these costs, while sellers cover their own side. In slower markets, sometimes concessions can offset a portion, often through a higher offer price. My advice after closing over 3,000 loans: always compare lender estimates, review your final disclosure as soon as it\u2019s available, and don\u2019t hesitate to ask about credits, assistance, or even duplicate fees. Careful planning here helps you avoid draining your savings and keeps your purchase on solid ground\u2014especially if your income or finances don\u2019t fit the usual mold.<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>One thing I always emphasize with clients: closing costs are more than just a footnote on your mortgage journey. They\u2019re entirely separate from your down payment and can add up to 2%\u20135% of your loan amount\u2014not the home&#039;s purchase price. This is money due up front, covering everything from lender and property fees to legal, [&hellip;]<\/p>\n","protected":false},"author":564,"featured_media":26,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-posts"],"_links":{"self":[{"href":"https:\/\/www.mrkenmortgage.com\/blog\/wp-json\/wp\/v2\/posts\/25","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.mrkenmortgage.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.mrkenmortgage.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.mrkenmortgage.com\/blog\/wp-json\/wp\/v2\/users\/564"}],"replies":[{"embeddable":true,"href":"https:\/\/www.mrkenmortgage.com\/blog\/wp-json\/wp\/v2\/comments?post=25"}],"version-history":[{"count":0,"href":"https:\/\/www.mrkenmortgage.com\/blog\/wp-json\/wp\/v2\/posts\/25\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.mrkenmortgage.com\/blog\/wp-json\/wp\/v2\/media\/26"}],"wp:attachment":[{"href":"https:\/\/www.mrkenmortgage.com\/blog\/wp-json\/wp\/v2\/media?parent=25"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.mrkenmortgage.com\/blog\/wp-json\/wp\/v2\/categories?post=25"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.mrkenmortgage.com\/blog\/wp-json\/wp\/v2\/tags?post=25"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}