closing costs

noun

: the extra amounts of money that people need to pay when they buy a house

Examples of closing costs in a Sentence

Recent Examples on the Web Budget for a down payment, closing costs and your expenses after buying a home Another way to reduce your monthly mortgage payment is to make as big a down payment as possible. Jeanne Sahadi, CNN, 4 Apr. 2024 Sellers will not have to pay any realtor commissions, or any of the extra closing costs associated with listing it. Kc Property Group, Kansas City Star, 31 Mar. 2024 To start with, the closing costs associated with selling and then buying a home (broker commissions, inspection and appraisal fees, loan-origination fees, etc.) would easily take up most if not all of that $10,000. The Editors, National Review, 25 Mar. 2024 Few individuals can quickly save up for a downpayment, along with other home-purchase closing costs, while also diverting a lot of money into a workplace 401(k) plan or some type of Individual Retirement Account. USA TODAY, 24 Mar. 2024 In that case, buyers will have to pay their own agent out of pocket, on top of a down payment and other closing costs. Scott Horsley, NPR, 22 Mar. 2024 Some agents, however, worry shifting how commission fees are paid could hurt first-time homebuyers already straining to afford the Bay Area’s hefty down payments and closing costs. Ethan Varian, The Mercury News, 19 Mar. 2024 The seller will pay six months of common charges and property taxes, not closing costs and six months of property taxes. New York Times, 10 Mar. 2024 Others in the housing industry disagree, saying individual tax credits that promote more demand for housing and place limits on closing costs would further increase home prices and the cost of credit. Bryan Mena, CNN, 8 Mar. 2024

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'closing costs.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Dictionary Entries Near closing costs

Cite this Entry

“Closing costs.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/closing%20costs. Accessed 18 Apr. 2024.

Last Updated: - Updated example sentences
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!