For first time home buyers, the settlement statement for buying your new home can be a confusing and overwhelming document to understand. However, it is really important to understand all of the costs involved in getting your loan and closing on the home. Your lender should provide you a settlement statement with estimated costs well before your closing date. Take the time to review the document carefully so that you are familiar with it when you get the final statement on closing day.
If you are looking for a home to buy and you are not familiar with common closing costs, take a look at the guide below as it explains the costs that are typically seen on most settlement statements for home buyers.