Buyer’s Closing Costs

Buying a Home in New Jersey
Buyers Approximate Closing costs – Reference Guide

For more detailed information on the home buying process in New Jersey, local town tours or to chat with one of our amazing agents about the market, call us at 973-936-9129

Legal Fees and Title Costs
1. Attorney Fee $1,500.00 to $2,200.00
2. Survey (Condo $150 to $250) $450.00 to $800.00
3. Recording Fees with Mortgage & Deed $200.00 to $300.00
Title Searches/Title Policy Endorsements $250.00 to $500.00
5. Title Insurance Premium (obtain from lender or attorney)
Mortgage Costs
6. Application Fee
(Includes Credit Report)
$300.00 to $600.00
7. Appraisal $400.00 to $600.00
8. Miscellaneous Mortgage Costs
(Varies, be sure to ask your lender)
$100.00 to $600.00
9. PMI (Private Mortgage Insurance) (obtain from lender)
10. Points (obtain from lender)
(Fee paid to lender to “buy-down” interest rate on mortgage)
(One point = 1% of mortgage, ex. – 1 point on a $500,000 mortgage equals $5,000)
Inspection Costs
11. Home Inspection $600.00 to $900.00
Radon Inspection $120.00 to $300.00
Wood Destroying Insect
Inspection/Certification
$75.00 to $150.00
Septic Inspection (if applicable) $750.00 to $1000.00
Oil Tank Inspection (if applicable) $395.00 to $500.00
Other Inspections (if applicable)
Asbestos, Chimney and Mold – (costs vary)
12. Homeowner’s Insurance (1 yr. prepaid) Obtain from Insurance Co.
13. 2 Months Escrow Homeowner’s Insurance
14. Escrows for property taxes up to 3 months
15. Mansion Tax, if applicable (Residential Zone Use) 1% of consideration when sales
price is over $1,000,000

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