All you Need to Know About Closing Costs

 When buying a home at the Lake of the Ozarks, or refinancing an existing mortgage, there are several different costs associated that you may not be aware of. You'll have fees from your mortgage lender, interested third parties such as title companies and insurance agencies, as well as realtors fees (on a purchase.) As the most trusted title company at the Lake of the Ozarks, we know that it's essential to understand all the costs associated with buying or refinancing. Therefore, we're here today to shed a little light on closing costs and what you need to know about them.

What are Closing Costs?

Closing costs can vary for every real estate transaction, but there are some general fees that are the "cost of doing business." This ensures that all necessary information is complete for a smooth and successful closing. Below are a few of the general costs you can expect to see at the closing table:

  • Loan origination fees
  • Title insurance & search fees
  • Underwriting fee
  • Property tax
  • Appraisal & Inspection fees
These are just the basic fees that one can expect to see. You may find additional costs associated with your transaction depending on things such as Homeowner's Association fees, flood insurance, private mortgage insurance, and potential prepaid items/escrows.

Who's Responsible?

Fees are itemized to reflect which party is obligated for the cost. This can actually vary depending on the type of real estate/loan type you're receiving, as well as negotiations between buyers, sellers, and their agents. Buyers can expect to pay most of the fees associated with closing. However, this can be negotiated to some extent through the mortgage process. There are limitations, so be sure to ask your mortgage lender about these financing options. 

Pay Upfront or Over Time?

This depends on the type of loan you are acquiring. Traditionally, closing costs are paid upfront. Most of the time in the form of a cashier's check, for security purposes. So, when you're calculating the amount of cash you need to have on hand for closing and down payment, calculate roughly 2-4% of the home's sales price for closing costs.

Professional Closing Services for You!

As the buyer, you are allowed the freedom to choose a title agency to represent your transaction. Your premier title company at the Lake of the Ozarks, Arrowhead Title, would be honored to represent you and guide you to a successful closing. We have been providing excellent real estate closing services at the Lake of the Ozarks for over 36 years! Allow our expertise to work for you on your next investment!

The Lake of the Ozarks' Most Trusted Title Company

Where Accuracy Matters!


750 Bagnell Dam Blvd Suite B
Lake Ozark, M

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