Closing costs are the total of all the expenses incidental to the sale of real estate, including loan, title and appraisal fees that must be paid at closing related to your new mortgage.

Closing costs usually include an origination fee, discount points, appraisal fee, title search and insurance, survey, taxes, deed recording fee, credit report charge and other costs assessed at settlement. The cost of a closing usually averages about 3 percent to 6 percent of the mortgaged amount.