What are closing costs and how much are they in Arizona?
Closing costs are the fees you pay to complete the purchase beyond your down payment. In Arizona they typically include loan origination charges, title insurance, escrow fees, appraisal, home inspection, HOA transfer fees if applicable, prepaid property taxes and insurance, and recording fees. The total varies based on your loan type, purchase price, lender, and title company. Buyers generally pay somewhere in the range of two to five percent of the purchase price, though it can be higher or lower. Some costs are fixed and others depend on your loan amount and interest rate.
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More on closing costs and the closing process
- How long does closing take after going under contract?
- What happens on closing day and when do I get the keys?
- What is a final walk-through and what if something is wrong?
- Can I close remotely or do I have to sign in person?
- What is the difference between the Loan Estimate and the Closing Disclosure?
- What are prepaid items at closing?
Meet Jon Hegreness
Jon Hegreness
REALTOR / Associate Broker · Howe Realty
AZ License BR540940000
Full-time Phoenix North Valley REALTOR and Associate Broker with 24 years in Arizona residential real estate. A negotiator and problem solver who works the way you would want a friend in the business to work: direct, on your side, and steady through the parts that get complicated.