Just about all homebuyers have to pay closing costs, which are due on settlement day. How much will you pay? It depends on your specific transaction, but you will find out when your lender provides you with a closing disclosure a few days before your closing. This document will contain a good faith estimate of your closing costs and your loan.
You can pay closing costs by wiring the funds (ask us how!) or by cashier’s or certified check. A cashier’s check is written by the bank; the money to cover the check is transferred from your account to the bank’s escrow account, and the bank writes the check against its escrow account. A certified check has been certified by the bank that the funds are available in your account to cover the check and that your signature is genuine.