Chapter 1 - Knowing Your Numbers
Let’s Talk Closing Costs: What You’ll Need to Know
In this lesson, you’ll find a detailed explanation of what closing costs are and how they apply whether you’re buying with cash or financing. The document breaks down common closing expenses—including title fees, government charges, prepaid costs, and more—so you know exactly what to expect.
It also includes key takeaways to help you better understand how closing costs affect your total investment and how to prepare for them before you close on your property.
Cash Buyer
What to Know at the Closing Table (Cash Buyer)
As a cash buyer, closing is usually faster and more straightforward—but there are still a few key things to keep in mind. At the closing table, you’ll review and sign the final documents, confirm the title is clear, and pay the remaining balance due after your deposit and any credits.
This sample HUD statement gives you an idea of what those final numbers might look like, including the breakdown of closing costs. Reviewing this ahead of time can help you feel more confident and prepared when it’s time to close.
Financing Buyer
What to Know at the Closing Table (Financing Buyers)
If you’re buying with financing, closing day is when everything comes together—from final loan approval to signing your mortgage documents and paying any closing costs due. You’ll also review your Closing Disclosure (CD), which outlines your loan terms, monthly payment, and a detailed breakdown of all fees.
This sample document gives you an idea of what to expect, helping you understand the numbers ahead of time so you can close with confidence and peace of mind.