Closing Costs Financial Glossary

What is it? Any fees paid by the borrowers or sellers during the closing of the mortgage loan. This normally includes an origination fee, discount points, attorneys fees, title insurance, survey, filing fees and any items which must be prepaid, such as taxes and insurance escrow payments.

Finance Term Definition Added By: Elizabeth

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Other Similar Finance Terms:

Financial Term PITI is Principal, interest, taxes and insurance, which comprise your monthly mortgage payment.

Financial Term positive gap is A term referring to an asset-sensitive condition. A mismatch in which interest-sensitive assets exceed interest-sensitive liabilities.

Financial Term Capital gains tax is A tax on the increase in the value of an asset, such as a share, since you bought it.

Financial Term Closing Statements is A financial disclosure giving an account of all funds received and expected at the closing, including the escrow deposits for taxes, hazard insurance, and mortgage insurance.

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