Question

Fees paid at the time of a home loan transaction between the buyer, seller and lender are called _____.
a.
application costs
b.
closing costs
c.
lending costs
d.
purchase costs

Answer 1

b. closing costs

Closing costs are the fees and charges paid at the closing of a real estate transaction by the buyer, seller, and lender (e.g., origination, appraisal, title, recording, and transfer fees).