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Closing Costs · 2026

Average Closing Costs on a House by State (2026)

Total closing costs typically run 2%–5% of your loan amount. National average: $4,528 (~1.04% of price) per the LodeStar 2026 Purchase Mortgage Closing Cost Data Report. Where you buy matters — costs range from 0.39% in South Dakota to 3.06% in Delaware. Educational guide from Simply Approved Mortgages (Company NMLS# 2620881), reviewed for 2026.

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Quick answerSummary
  • ✓U.S. national average: $4,528 (~1.04% of $433,632 average price) — LodeStar 2026
  • ✓National median: $3,492 (0.85% of sales price)
  • ✓Typical range: 2%–5% of loan amount, paid at signing
  • ✓Highest: Delaware (3.06%); Lowest: South Dakota (0.39%), Colorado (0.50%), Iowa (0.56%)
  • ✓14 states have NO real estate transfer tax
  • ✓Refinance closing costs are lower (avg $2,207, 0.67% of loan amount) — LodeStar 2026 Refinance report
  • ✓Loan Estimate (3 days after application) shows your exact numbers
  • ✓Simply Approved Mortgages generally uses a 1.5% lender-paid compensation structure on eligible residential transactions, keeping our compensation transparent. It is not a guarantee of savings or a lower rate.
SA

Written by

Simply Approved Mortgages Team

Licensed Loan Officers · NMLS# 2620881

12 min read·Independently researched · No paid product placement
Free with your request

Get your Average Closing Costs on a House by State (2026) scenario summary

Complete the short request and a Simply Approved Mortgages Loan Officer sends back a written summary built from your own numbers: an estimated payment breakdown, estimated cash to close, the loan structures that may fit your file, and the documentation underwriting will ask for.

  • Estimated monthly payment with taxes and insurance
  • Estimated cash to close for your scenario
  • Loan structures your profile may fit
  • Document checklist for your file
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Takes about 3 minutes · Summary shown on screen and emailed to you

Illustration only, generated from the information you enter. Not a rate quote, lock, loan estimate, pre-qualification, offer, approval, or commitment to lend. Figures are subject to credit, income, asset and property review and full lender underwriting; binding numbers appear on your Loan Estimate.

Scenario summary

Purchase price entered
$412,000
Down payment entered
$20,600
Estimated loan amount
$391,400
Estimated cash to close
$14,300
Programs reviewed
4

Sample layout with example figures — your own numbers replace these. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.

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How much are average closing costs in 2026?

According to the LodeStar Software Solutions 2026 Purchase Mortgage Closing Cost Data Report (released April 27, 2026 and based on 620,000+ purchase quotes from Jan 1–Dec 31, 2025), the U.S. national average closing cost on a home purchase is $4,528 including recording fees and transfer taxes — about 1.04% of the average sales price of $433,632. The median comes in at $3,492 (0.85% of sales price). Excluding recording and transfer taxes, the average is $2,993.

Refinance closing costs are lower because refinances skip owner's title insurance and most transfer taxes. Per the LodeStar 2026 Refinance Mortgage Closing Cost Data Report, the national average is $2,207 — about 0.67% of the refinance loan amount.

Beyond national averages, closing costs vary significantly by state — from under 0.5% of the sale price in the lowest-cost states to more than 3% in the highest-cost states, driven mostly by state and local transfer taxes.

Mortgage market update — why timing affects your closing costs

Rate movement changes the math on discount points and lender credits — the two levers that most directly move your cash-to-close. When rates fall, points get cheaper to buy down; when rates rise, lender credits (a slightly higher rate for cash back at closing) become more valuable. Data refreshes automatically from Freddie Mac PMMS.

Purchase market update

What buyers should know this month

November 2026

30-Yr Fixed · national avg

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15-Yr Fixed · national avg

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2026 buying power

Conforming baseline: $832,750
FHA floor / ceiling: $541,287 – $1,249,125

What it means for purchase buyers in November 2026: Conventional fixed rates move weekly with the bond market, so the number you see today is the national average — not your locked rate. Federal loan limits for 2026 are published by FHFA and HUD; high-cost counties carry higher caps. Page reviewed November 2026 (2026 program year). Sources: Freddie Mac PMMS, FHFA, HUD. Individual results vary.

Rent vs. buy — is paying closing costs worth it?

Closing costs are a one-time expense; rent is forever. Compare HUD Fair Market Rent for your area against a typical PITI for a home at the national average price. If your break-even is under 5 years, absorbing closing costs usually pencils. HUD FMR data refreshes annually every October.

2026 HUD Fair Market Rents · Florida

What renters in Florida could buy at payment parity

We pulled HUD's published 2026 2-bedroom Fair Market Rents for Floridacounties and calculated the loan amount whose full PITI payment would roughly match today's median rent. It's a quick way to see if buying makes sense in your area.

*Illustrative only for the Florida areas listed above — not a quote, lock, offer, or commitment to lend. Assumes 6.75% 30-year rate, ~22% of payment going to taxes/insurance/HOA, and 3.5% down. Binding figures appear on your Loan Estimate. Individual results vary. Florida rent figures: HUD User FMR 2026 .

Next steps

See Today's Rates

Emailing your Florida rent vs buy comparison scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

2026 HUD Fair Market Rents · Colorado

What renters in Colorado could buy at payment parity

We pulled HUD's published 2026 2-bedroom Fair Market Rents for Coloradocounties and calculated the loan amount whose full PITI payment would roughly match today's median rent. It's a quick way to see if buying makes sense in your area.

*Illustrative only for the Colorado areas listed above — not a quote, lock, offer, or commitment to lend. Assumes 6.75% 30-year rate, ~22% of payment going to taxes/insurance/HOA, and 3.5% down. Binding figures appear on your Loan Estimate. Individual results vary. Colorado rent figures: HUD User FMR 2026 .

Next steps

See Today's Rates

Emailing your Colorado rent vs buy comparison scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

Get a personalized closing cost estimate

Every Loan Estimate is federally standardized — we'll walk through yours line by line so nothing is a surprise at the table.

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Jump to your state

See closing costs in your state — averages, transfer taxes, and DPA programs

Highest and lowest closing cost states (LodeStar 2026)

State-level closing costs are driven mostly by transfer taxes and title practices. The LodeStar 2026 report confirms the following extremes as a percentage of the sales price (with recording fees and transfer taxes included):

Highest — most expensive to close
  • Delaware3.06%
Lowest — least expensive to close
  • South Dakota0.39%
  • Colorado0.50%
  • Iowa0.56%

LodeStar names New York, Vermont, Pennsylvania, and Washington, D.C. as also among the highest — driven by transfer taxes — but does not publish a specific percentage for those states in the 2026 report.

Source: LodeStar Software Solutions, 2026 Purchase Mortgage Closing Cost Data Report. Averages only — individual results vary based on price, loan program, property type, and services chosen. Not a quote, lock, offer, or commitment to lend.

Related guides
→ First-time home buyer guide→ Down payment & closing cost assistance→ Mortgage pre-approval→ How much home can you afford→ Purchase mortgage programs→ Today's mortgage rates

States with no real estate transfer tax

Real estate transfer taxes are levied when title is transferred from seller to buyer. They can add hundreds to thousands of dollars to a closing depending on the price and jurisdiction. The following states do not impose a state real estate transfer tax (local recording fees still apply):

Alaska
Idaho
Indiana
Kansas
Louisiana
Mississippi
Missouri
Montana
New Mexico
North Dakota
Oregon (most counties)
Texas
Utah
Wyoming

Source: National Association of Realtors — State and Local Issues / Real Estate Transfer Tax. Local city, county, or municipal transfer taxes may still apply in some of these states. Confirm with your title company for your specific property.

Closing costs by state — full directory (2026)

Every U.S. state and Washington, D.C. has its own dedicated closing costs page with a state-specific calculator, transfer-tax details, and FAQs. Percentages shown are from the LodeStar 2026 report (states cited directly in the LodeStar press release) or modeled from the report's state-level tables.

Alabama0.89%Alaska0.54%Arizona0.76%Arkansas0.84%California0.74%Colorado0.50%Connecticut0.93%Delaware3.06%District of Columbia2.39%Florida1.82%Georgia1.24%Hawaii0.62%Idaho0.70%Illinois1.30%Indiana0.70%Iowa0.56%Kansas0.80%Kentucky0.91%Louisiana1.20%Maine0.88%Maryland2.03%Massachusetts0.81%Michigan1.08%Minnesota0.91%Mississippi0.98%Missouri0.60%Montana0.60%Nebraska0.74%Nevada0.84%New Hampshire1.34%New Jersey0.92%New Mexico0.84%New York2.47%North Carolina0.56%North Dakota0.69%Ohio1.07%Oklahoma1.08%Oregon0.67%Pennsylvania2.36%Rhode Island0.75%South Carolina0.65%South Dakota0.39%Tennessee1.18%Texas0.93%Utah0.72%Vermont2.20%Virginia1.36%Washington1.01%West Virginia1.14%Wisconsin0.76%Wyoming0.76%

Percentage is average total closing costs (incl. recording and transfer taxes) as a share of the sales price. Illustrative — not a quote, lock, offer, or commitment to lend. Binding figures appear on your Loan Estimate.

How to lower your closing costs

  1. Shop multiple lenders. Every Loan Estimate uses the same standardized format, making it easy to compare rates, fees, and closing costs line by line.
  2. Shop for services you're allowed to choose. Your Loan Estimate identifies which closing services you can shop for, such as title services and homeowners insurance.
  3. Negotiate seller concessions. Depending on your loan program and down payment, the seller may be able to pay some of your closing costs.
  4. Ask about a lender credit. Accepting a slightly higher interest rate may allow the lender to cover part of your closing costs, reducing your upfront cash needed at closing.
  5. Look into down payment and closing cost assistance. State and local programs may help eligible buyers cover upfront costs.
  6. Compare origination fees. Origination charges vary by lender. Simply Approved Mortgages generally uses a 1.5% lender-paid compensation structure on eligible residential transactions. Fees vary by loan program, state requirements, and other factors.

When you'll see your real numbers

Federal law (TILA-RESPA Integrated Disclosure, or TRID) requires two standardized forms so you always know what you're paying:

  • Loan Estimate (LE) — delivered within 3 business days of a completed application. Shows estimated rate, monthly payment, and every closing cost line item.
  • Closing Disclosure (CD) — delivered at least 3 business days before consummation. Contains the final numbers. Any material change resets the 3-day waiting period.

Both forms are federally standardized so you can compare offers apples-to-apples. Ranges and figures on this page are averages — not a quote, lock, offer, or commitment to lend. Binding numbers appear on your Loan Estimate.

Our approach to closing costs

On eligible residential transactions we generally use a 1.5% lender-paid compensation structure — the lender pays our broker compensation, so you don't pay us a separate broker fee. Certain loan programs, lenders, states, or borrower circumstances may result in different fees. Every loan we originate is subject to federal and state mortgage regulations, including RESPA, TILA, and the Loan Originator Compensation Rule. The ranges and figures on this page are general market context for educational purposes — they are not advertised rates, APRs, or specific offers of credit.

Your actual rate, fees, APR, and total closing costs will be disclosed on the official Loan Estimate after you submit an application and we review your specific scenario. A Simply Approved Mortgages Loan Officer can walk through every line so you understand exactly what you're paying for and why.

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Closing Costs

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Qualifications & requirements

Closing costs — U.S. averages qualifications: what you actually need to qualify

RequirementTypical standardNotes
National average (purchase, incl. taxes)$4,528LodeStar Software Solutions, 2026 Purchase Mortgage Closing Cost Data Report. Roughly 1.04% of the $433,632 average sales price.
National median (purchase, incl. taxes)$3,492Median = 0.85% of sales price. Same source.
National average (purchase, ex. taxes)$2,993Excludes recording fees and transfer taxes. Same source.
National average (refinance, incl. taxes)$2,207LodeStar 2026 Refinance Mortgage Closing Cost Data Report — 0.67% of loan amount. Refinances skip owner's title and most transfer taxes.
Typical purchase closing costs range2%–5% of loan amountStandard industry range published by CFPB and mortgage guides. Actual costs depend on program, property, and state.
Typical lender compensation range~2.00%–2.75% of loanMarket-wide. Simply Approved Mortgages operates a 1.5% lender-paid compensation structure on most loans.
Highest average state (% of price)Delaware — 3.06%Followed by New York, Vermont, Pennsylvania, and Washington, D.C. Source: LodeStar 2026.
Lowest average states (% of price)South Dakota — 0.39%Followed by Colorado (0.50%) and Iowa (0.56%). Source: LodeStar 2026.
States with no transfer tax14 statesAK, ID, IN, KS, LA, MS, MO, MT, NM, ND, OR (most counties), TX, UT, WY. Source: National Association of Realtors.

Sources: LodeStar Software Solutions 2026 Purchase & Refinance Mortgage Closing Cost Data Reports (published April 27 and May 11, 2026); National Association of Realtors — Real Estate Transfer Tax overview; CFPB — Your Home Loan Toolkit. Figures are averages; individual results vary. Not a quote, lock, offer, or commitment to lend.

What closing costs pay for

✓

Lender fees — origination, underwriting, processing, application, and credit report charges.

✓

Third-party services — appraisal, home inspection, title search, and title insurance.

✓

Government charges — county recording fees, mortgage tax, and state/local real estate transfer taxes.

✓

Prepaids and escrows — upfront property taxes, homeowners insurance premium, and per-diem interest to the first payment.

✓

Optional services — attorney fees (required in some states), pest/termite inspection, survey, and HOA transfer fees.

See where you stand on these requirements

A Simply Approved Mortgages Loan Officer will review your credit, income, and reserves against real program guidelines — no obligation.

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Worked example

How this loan actually works — a full example

Below is a complete, line-by-line estimate for a buyer purchasing a $400,000 primary residence in Colorado with 10% down ($40,000). Colorado is one of the lowest-cost states to close per LodeStar's 2026 report. This is the same math our closing cost calculator uses — shown step-by-step so you can see exactly where the money goes.

Purchase price
$400,000
Down payment
10% ($40,000)
Loan amount
$360,000
State closing-cost rate
~0.50% of price
Bucket
Lender & third-party fees
Subtotal
$6,740
Lender-paid compensation (1.5%)$5,400
Appraisal$650
Credit report$85
Underwriting / processing$495
Flood certification$25
Tax service$85
Bucket
Title, recording & transfer taxes
Subtotal
$660
Title insurance (lender + owner)$363
Recording fees$66
Transfer / documentary taxes$231
Bucket
Prepaids & escrow reserves
Subtotal
$4,395
Homeowners insurance (1 yr + 2 mo reserve)$2,333
Property tax reserve (~3 mo)$1,100
Prepaid interest (~15 days)$962
Total cash to close
$51,795

Down payment ($40,000) + estimated closing costs ($11,795)

Closing costs
$11,795
As % of price
2.95%
How our compensation works
Illustrative 1.5% lender-paid compensation$5,400

Simply Approved Mortgages generally uses 1.5% lender-paid compensation on eligible residential transactions. The lender pays this under its agreement with us and it is reflected in loan pricing; it is not a separate borrower fee and does not guarantee a lower rate or cost. Compare rate, APR, points, credits and fees on your Loan Estimate. Illustrative only — not a quote, lock, offer, or commitment to lend.

How we get paid

Illustrative example only. Not a quote, lock, offer, or commitment to lend. Homeowners insurance, property tax, and prepaid interest use typical estimates (0.5%/yr, 1.1%/yr, 6.5% rate). Binding figures appear on your federally required Loan Estimate within 3 business days of a completed application. Actual closing costs vary by loan program, credit, LTV, DTI, occupancy, property type, county, HOA fees, and seller credits. Simply Approved Mortgages LLC — NMLS# 2620881.

How today's mortgage rates affect your closing costs

Rate and closing costs are linked. Paying discount points upfront lowers your rate but raises cash to close; taking a lender credit raises your rate but reduces cash to close. Use the live rate view below as directional context, then compare a par-rate quote against a points quote and a lender-credit quote on your Loan Estimate. Rates shown are illustrative and change daily — not a quote, lock, offer, or commitment to lend.

Today's rates

Live ratesLive pricing. Rates are retrieved from our pricing provider when you run a scenario.

Real rates — your scenario, not a guess

Today's rate options below refresh twice each business day from our wholesale pricing engine; run your own scenario in the pricing tool. National survey averages below give you market context — they're not Simply Approved's pricing.

Our live pricing engine

See your real rate — for your scenario, in our pricing tool

Pull live, scenario-specific pricing from our wholesale pricing engine. Your binding rate and APR are confirmed on your Loan Estimate after a quick file review.

See My Live Rate →

Pricing snapshot

Live ratesLive pricing. Rates are retrieved from our pricing provider when you run a scenario.

Today's Mortgage Rate Options at a Glance

Four real options from today's wholesale pricing for one documented sample scenario per program — no form needed. Updated twice each business day, about 10 AM and 2 PM Eastern. Your own rate depends on your credit, down payment, property, state and lock date.

National market context

Freddie Mac PMMS — weekly U.S. averages

Source: Freddie Mac PMMS (PMMS_history.csv)

Loading latest PMMS averages…

PMMS figures shown above are Freddie Mac's national survey averages, published weekly by Freddie Mac (PMMS_history.csv) — they are not Simply Approved Mortgages' rates, not a quote, not a lock, and not an offer or commitment to lend. Your actual rate, APR, and payment depend on credit profile, loan program, occupancy, LTV, DTI, property type, lock period, and current market pricing at the time of lock. Your binding figures appear on your Loan Estimate. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.

Under TILA-RESPA, your Loan Estimate (within 3 business days of a completed application) shows the exact rate, points, lender credits, and total closing costs for your file. Individual results vary based on credit, LTV, DTI, occupancy, property type, and state. Source: CFPB — Loan Estimate.

Closing cost calculator

Estimate itemized closing costs by home price, down payment, and state. Includes lender & third-party fees, title & recording, transfer taxes, and prepaids/escrow reserves. Illustrative only — your Loan Estimate has your actual figures.

Home purchase price$450,000
$
Down payment10% ($45,000)
%

State drives title, recording, and transfer taxes.

Lender & third-party fees
Lender-paid compensation (1.5%)$6,075
Appraisal$650
Credit report$85
Underwriting$495
Flood certification$25
Tax service$85
Subtotal$7,415
Title, recording & state taxes
Title insurance (owner + lender)$3,768
Recording fees$685
Transfer tax$2,398
Subtotal$6,851
Prepaids & escrow reserves
Homeowners insurance (1 yr + 2 mo reserve)$2,625
Property tax reserve (~3 mo)$1,238
Prepaid interest (~15 days)$1,082
Subtotal$4,945
Loan amount
$405,000
Estimated closing costs
$19,211
Total cash to close (with down payment)
$64,211
Illustrative estimate only. Not a quote, lock, offer, or commitment to lend. Actual closing costs vary by loan program (FHA/VA/USDA/Conventional add mortgage insurance, funding fees, or guarantee fees), credit, LTV, occupancy, property type, county, HOA transfer fees, seller credits, and current market pricing. Homeowners insurance, property tax, and prepaid interest use typical estimates (0.5%/yr, 1.1%/yr, 6.5% rate). Binding figures appear on your federally required Loan Estimate within 3 business days of a completed application. Sources: LodeStar Software Solutions — 2026 Purchase Mortgage Closing Cost Data Report (released April 27, 2026); National Association of Realtors — Real Estate Transfer Tax; CFPB — Your Home Loan Toolkit. State factors and citations auto-refresh from src/data/lodestar-report.ts when a newer LodeStar report is published.

Next steps

See Today's Rates

Emailing your Closing cost calculator scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

Get Ready

Document Checklist for Closing

Gathering these documents up front helps your Simply Approved Mortgages Loan Officer issue a stronger pre-approval and move Closing to Clear-to-Close faster. Actual items required vary by scenario — your loan officer will confirm the final list.

Choose your income type

Only the income documents that apply to you are shown. Switch tabs if you have multiple income sources — your loan officer will confirm which apply.

W-2 / Employed Income

  • ✓Most recent 30 days of paystubs (all borrowers, all jobs)
  • ✓W-2s for the last 2 years (all employers)
  • ✓Two-year employment history with employer names, addresses, and dates
  • ✓Verification of Employment — written (WVOE) or electronic (EVOE through a third-party payroll service); your loan officer orders it with your signed authorization
  • ✓Employment reverification within 10 days before closing — verbal or electronic, required on every file
  • ✓Bonus / commission / overtime: 2-year history if used to qualify
  • ✓Recent job change: offer letter and first paystub after start date
  • ✓Retirees / fixed income: Social Security award letter, pension statements, 1099-R

Assets & Reserves

  • ✓Most recent 2 months of bank statements (all pages)
  • ✓Most recent quarterly statement for retirement / brokerage / 401(k)
  • ✓Gift funds: signed gift letter + donor bank statement + transfer proof
  • ✓Large deposit letters of explanation with source documentation

Identity & Residency

  • ✓Government-issued photo ID (driver's license or passport)
  • ✓Social Security card or ITIN letter
  • ✓Two years of residency history with addresses

Credit & Liabilities

  • ✓Written credit report authorization
  • ✓Letter of explanation for any late payments, collections, or inquiries
  • ✓Bankruptcy discharge papers or foreclosure documentation (if applicable)
  • ✓Child support / alimony order (if paying or receiving)
  • ✓Divorce decree / separation agreement (only if applicable)

Property & Purchase

  • ✓Fully executed purchase contract with all addenda
  • ✓Earnest money deposit receipt + source of funds
  • ✓Homeowners insurance quote (binder before closing)
  • ✓HOA / condo questionnaire and dues statement (if applicable)

FHA-Specific Documentation

  • ✓FHA case number assignment (ordered by your loan officer)
  • ✓CAIVRS clearance authorization
  • ✓For DPA: down payment assistance program application + subordination docs
  • ✓For non-occupying co-borrower: proof of relationship
  • ✓For manufactured home: HUD tags, foundation certification, land title

Educational checklist only. Not a commitment to lend and not a complete list of conditions. Documentation requirements are governed by agency guidelines (Fannie Mae Selling Guide, FHA Handbook 4000.1 incl. Update 18 (August 12, 2026), VA Lender's Handbook, USDA HB-1-3555) and individual investor overlays. Your Simply Approved Mortgages Loan Officer will provide your specific document list based on your scenario.

Credit Documentation & Monitoring

Credit Reports and Credit Monitoring for Closing

Credit is one of the four underwriting buckets every lender reviews — and one of the few you can actively improve before you apply. Monitoring your credit throughout the process helps you catch errors, fraud, and score changes early, which protects your approval timeline and your rate.

Step 1 · Lender Pull

Ordering Credit for Your Pre-Approval File

Once you sign your loan application (Form 1003) and disclosures, your Simply Approved Mortgages Loan Officer orders a tri-merge residential mortgage credit report (RMCR) from Equifax, Experian, and TransUnion. This is a hard inquiry, but FICO's model treats mortgage inquiries within a 45-day window as a single event, so shopping lenders during that window will not stack on your score.

  • What we need from you: signed borrower authorization, government-issued photo ID, Social Security number (or ITIN), and current address.
  • What the report shows underwriters: middle FICO score, open tradelines, minimum payments, late history, collections, public records, and recent inquiries.
  • How long it's valid: 120 days for conventional loans and for FHA/VA/USDA (HUD guidelines, VA Lender's Handbook Ch. 4). Older reports must be re-pulled before closing.
  • Rapid rescore: if a legitimate error is on your report, we can request a rapid rescore in 3–7 business days after you supply documentation from the creditor.
Pay for Your Credit Report →

This link redirects to our third-party credit vendor's payment portal. You pay the report fee directly so we can pull your tri-merge credit report for your pre-approval file. A credit pull is required for underwriting; this is not a commitment to lend.

Step 2 · Self-Check

Review and Monitor Your Credit at MyITINCredit.com

Before we pull your file, review and monitor your credit at MyITINCredit.com. Their $1 promotional trial gives you tri-bureau visibility plus ongoing credit monitoring so you can catch changes, disputes, or new accounts as they appear — not after they've already delayed your loan.

  • Verify accuracy: confirm names, addresses, SSN/ITIN, and every open account belong to you.
  • Dispute errors: the Fair Credit Reporting Act gives you the right to dispute inaccurate items directly with the bureau — no charge.
  • Address collections and charge-offs: a settled or paid collection can be documented in advance so it does not stall underwriting.
  • Pay down utilization: credit-card balances reported below 30% of the limit typically produce the strongest scores.
  • Avoid new credit: do not open new cards, finance a car, or co-sign for anyone from now through closing.
  • Monitor continuously: credit monitoring alerts you to new inquiries, balance changes, and potential identity theft while your loan is in process.
Check & Monitor Your Credit at MyITINCredit.com →

MyITINCredit.com is a service operated by Simply Approved Corporation (a DBA of that entity), which is the parent company of Simply Approved Mortgages LLC. Simply Approved Mortgages may receive subscription revenue if you choose to enroll. Credit monitoring through MyITINCredit.com is optional and is not required to apply for or obtain a mortgage with us. Promotional pricing, trial terms, and monitoring features are set by MyITINCredit.com and subject to change.

Why credit monitoring matters during a mortgage — A single new collection, missed payment, or unauthorized inquiry can change your qualifying score or trigger additional underwriting conditions. Typical minimum scores* — Conventional 620, FHA 580 (3.5% down) or 500 (10% down), VA no HUD minimum (most lenders 580–620), USDA typically 640, Jumbo 680–740, Doctor Mortgage 680–700+, Non-QM/DSCR varies by program, ITIN 620–680 alternative credit. Investor and lender overlays apply; individual results vary. Not a commitment to lend.

Trusted government resources

These independent government resources can help you research mortgage programs, rates, and your rights before you apply.

Simply Approved Mortgages is not affiliated with HUD, the CFPB, the FTC, the VA, or any other government agency. Links are provided for your independent verification.

FAQs reviewed by Simply Approved Mortgages · November 2026

Still have questions? Get answers on your scenario

Start a short request and a Simply Approved Mortgages Loan Officer responds within one business day with next steps and a document checklist.

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Closing Costs: Frequently Asked Questions

Answers to the most common closing costs questions, written by licensed loan officers.

Closing costs are the fees and charges paid at the end of a real estate transaction, separate from the down payment. They include lender fees (origination, underwriting, credit report), third-party services (appraisal, title insurance, escrow), government charges (recording fees, transfer taxes), and prepaids (property taxes, homeowners insurance, per-diem interest).
Ask Sam AI

Ask SAM anything about mortgages

SAM is the Simply Approved Mortgages AI assistant. It answers general questions using the reviewed guides published on this site and links you to the primary government source. It is educational only — it does not quote a rate, payment, APR, approval or commitment to lend. A Simply Approved Mortgages Loan Officer reviews every scenario before any terms are confirmed.

Hi, I'm SAM — an AI assistant for Simply Approved Mortgages. I can explain loan programs, closing costs, DTI, down payments and which calculator or guide to use. I'm not a licensed loan officer, and nothing here is a quote, approval or commitment to lend.

SAM is an AI assistant — not a licensed loan officer, attorney, CPA or financial adviser. Answers are educational only, are not a quote, lock, offer or commitment to lend, and material loan terms must be reviewed by a Simply Approved Mortgages Loan Officer. Never share SSN/ITIN, date of birth, account numbers or passwords in chat. Residential mortgage loans are arranged in Florida and Colorado. Start My Approval.

Ask Sam AI provides general educational information only. It is an automated assistant, may be incomplete or out of date, and does not provide legal, tax or financial advice. Nothing it produces is a rate quote, APR, pre-approval, offer or commitment to lend. Never share a Social Security number, ITIN, date of birth, account number or password in chat. Simply Approved Mortgages LLC (NMLS #2620881) arranges residential mortgage loans in Florida and Colorado. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Equal Housing Opportunity.

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  1. 1Sign in to your Google account and search a mortgage topic such as "mortgage rates".
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  3. 3Search for Simply Approved Mortgages, tick the box, and save.
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Preferred sources is a Google Search feature controlled entirely by you and by Google. Simply Approved Mortgages LLC (NMLS #2620881) does not control search results and makes no representation about how or whether our content will appear. Educational content only — not a quote, lock, offer, or commitment to lend.

How this page connects

Where this fits in the closing, appraisal and title library

This page sits inside our Closing, appraisal and title coverage.

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Guide

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Guide

Purchase Mortgages

All programs for buying a home.

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Guide

FHA Loans

3.5% down with lower credit thresholds.

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Guide

Second Home Financing

Down payment and closing on a vacation home.

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Down Payment Assistance

Programs that can cover closing costs too.

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Document Checklist

What to bring to closing.

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FHA Loan Limits

Program caps by county.

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Internal library

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Purchase mortgages

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Mortgage Document Checklist
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Native American Home Loans
FHA Loan Limits
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Refinance Guide
Pre-Approval Request

Start My Approval

Complete this short request and a Simply Approved Mortgages Loan Officer will personally review your scenario. The form only asks what your program actually needs. Submitting it is not an application for credit and is not a commitment to lend.

Conventional loan

Tell us about your scenario

The form below is tailored to Conventional loan — only the questions and documents your program needs.

Step 1 of 2 · about 90 seconds
See your options — one short screen
Encrypted connection (HTTPS) NMLS# 2620881 Equal Housing Opportunity

Simply Approved Mortgages LLC is licensed to arrange residential mortgage loans in Florida and Colorado only. We ask first so we never collect a mortgage inquiry we are not licensed to act on.

Purchase price and down payment help us size the conforming loan.

What's your goal?
Purchase price$450,000
$
Down payment (10.0%)$45,000
$

A range is enough here — no credit report is pulled and your credit is not affected.

Estimated monthly payment at these numbers
$3,431

Illustrative estimate only — not a quote, rate lock, offer of credit, or commitment to lend.

Submitting this form is not an application for credit and is not a commitment to lend. No credit report is pulled at this step.

No obligation to apply Encrypted connection Verify NMLS# 2620881

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Equal Housing OpportunityEqual Housing OpportunityMortgage Broker — Not a LenderNMLS ID# 2620881NMLS Consumer AccessFlorida Mortgage Broker License #MBR7685Colorado Mortgage Company Registration

Licensing & Disclosures

Simply Approved Mortgages LLC | NMLS #2620881

Florida Branch Office (Miami, FL) | Branch NMLS #2688012

Florida Mortgage Broker License #MBR7685 | Colorado Mortgage Company Registration

Business Phone: (877) 813-7219

Equal Housing Opportunity

Broker identification. Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans with third-party wholesale lenders and do not make the lender's final credit decision or fund the loan. We arrange residential mortgage loans in Florida and Colorado. Business-purpose mortgage products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.

Credit and program terms. All loans are subject to lender credit approval, underwriting, acceptable appraisal or valuation when required, title review, insurance, and supporting documentation. Eligibility, programs, rates, APRs, points, lender credits, fees, payments, terms, loan amounts, down-payment requirements, mortgage insurance, and availability may vary based on borrower, property, occupancy, credit profile, loan-to-value ratio, debt-to-income ratio, lender, loan program, and state and may change without notice. Not all applicants, properties, products, or programs will qualify or be available in every state. Nothing on this site constitutes a loan approval, rate lock, offer, commitment to lend, guarantee of approval, or guarantee of terms or closing.

Rates, payments and calculators. Rates, APRs, payments, down payments, loan amounts, home values, estimated equity, savings, affordability estimates, closing costs, and other calculator or scenario results displayed on this site are estimates or illustrations unless expressly stated otherwise. Actual loan terms may differ. Taxes, homeowners insurance, mortgage insurance, association dues, lender charges, broker compensation, discount points, third-party charges, and other costs may apply. Advertised rates, payments, APRs, down payments, and other credit terms are subject to the assumptions and disclosures presented with the applicable advertisement. Applicable loan terms and disclosures will be provided as required for the particular transaction.

Mortgage products. FHA, VA, USDA, conventional, jumbo, non-QM, HELOC, reverse mortgage, down-payment-assistance, investment-property, DSCR, and other mortgage products referenced on this site are subject to their individual eligibility, underwriting, property, occupancy, and program requirements. Product availability varies by lender and jurisdiction. References to a mortgage product or program do not constitute a determination that a borrower or property qualifies.

Government-backed programs. Government-backed or government-insured mortgage programs referenced on this site may be subject to requirements established by the applicable government agency in addition to lender requirements. Government insurance or guaranties generally protect participating lenders against certain losses and do not constitute a guarantee of borrower approval.

Business-purpose products. DSCR, investment-property, and other business-purpose mortgage products referenced on this site are intended for qualifying business-purpose transactions. Business-purpose loans may be subject to different requirements and protections than consumer-purpose residential mortgage loans. Borrowers are responsible for accurately disclosing property occupancy and intended use.

Down payment assistance. Down payment or closing-cost assistance programs referenced on this site may be administered by governmental entities, housing finance agencies, nonprofit organizations, lenders, or other third parties. Program availability, funding, assistance amounts, eligibility requirements, repayment or forgiveness provisions, and other terms vary and may change or become unavailable without notice. Listing or referencing a program does not guarantee funding, eligibility, or mortgage approval.

Government affiliation. Simply Approved Mortgages LLC is not a government agency and is not affiliated with, acting on behalf of, sponsored by, or endorsed by HUD, FHA, VA, USDA, or any other federal, state, or local government agency. References to government agencies, programs, benefits, data, forms, or resources are provided for informational purposes and do not imply government sponsorship or endorsement of Simply Approved Mortgages LLC.

Fair lending. Equal Housing Opportunity. Simply Approved Mortgages LLC conducts business in accordance with applicable federal and state fair-housing and equal-credit-opportunity laws and does not discriminate on any prohibited basis.

No professional advice. Content on this site is educational and general in nature and is not legal, tax, accounting, financial, investment, estate-planning, or individualized government-benefits advice. Consumers should consult appropriate qualified professionals regarding their individual circumstances.

Third-party content. References or links to government agencies, lenders, assistance programs, products, services, or other third-party websites are provided for informational purposes or convenience. Simply Approved Mortgages LLC does not control and is not responsible for third-party content, availability, accuracy, or privacy practices.

NMLS Consumer Access: Verify Simply Approved Mortgages LLC, NMLS #2620881.

Simply Approved Mortgages LLC, 633 W 5th St, Ste 2600, Los Angeles, CA 90071 · 877-813-7219 · support@simplyapprovedmortgages.com. State licensing details available at the NMLS Consumer Access link above. © 2026 Simply Approved Mortgages LLC.

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