Closing statements look intimidating, but every line has a simple purpose.
Lender fees
Origination, underwriting and appraisal. These are negotiable — compare loan estimates line by line.
Title & escrow
Title insurance protects against ownership disputes; escrow fees pay the neutral party holding funds and documents.
Prepaids
Property taxes, homeowners insurance and interest paid in advance. Not a fee — you would pay these anyway.
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