Here at the Tom Randall Real Estate Team in Ames, Iowa we believe in providing as much information to our clients as necessary. 

Common Closing Costs for Buyers

The lender must disclose a good faith estimate of all settlement costs.  A check to cover your closing costs will probably have to be a cashier's check.  The title company or other entity conducting the closing will tell you the required amount for:

  • Down payment
  • Loan Origination fees
  • Points, or loan discount fees you pay to recieve a lower interest rate
  • Appraisal fee
  • Credit report
  • Private mortgage insurance premium
  • Insurance escrow for homeowners insurance, if being paid as part of the mortgage
  • Property tax escrow, if being paid as part of the mortgage. Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.
  • Deed recording fees.
  • Title insurance policy premiums
  • Survey
  • Inspection Fees - builiding inspction, termites, radon etc.
  • Notary fees
  • Prorations for your share of costs such as utility bills and property taxes

If you have any questions about this or any thing else related to buying or selling real estate don't hesitate to contact the Tom Randall Real Estate Team at (515)232-5700, or email a Buyer Specialist at or