What I Tell Buyers About Closing Costs Before They Fall in Love With a House

Closing costs can catch first-time buyers off guard. Here's what to expect across the East Bay: El Cerrito, Albany, Berkeley, Oakland, Richmond, and beyond.

Buyer Closing Costs (Typical Range)

On a $900,000 home, expect roughly $18,000-$27,000 in closing costs (2-3% of purchase price).

Breakdown:

• Loan origination fee: 0.5-1% of loan amount
• Appraisal: $600-$900
• Title insurance: $1,500-$2,500
• Escrow fees: $1,500-$2,000
• Recording fees: $150-$300
• Home inspection: $400-$600
• Prepaid property taxes: Varies by timing
• Prepaid homeowner's insurance: $1,500-$3,000/year

What's Negotiable

• Seller credits toward closing costs
• Lender credits (in exchange for higher rate)
• Some title company fees

Tips

• Ask for a detailed loan estimate early
• Get quotes from multiple title companies
• Budget more than you think you'll need