What "hidden" costs should I be aware of at closing?

The mortgage industry is just like any other - there are good and bad, competent and incompetent people involved. If your loan is already through underwriting, then your loan officer should be able to provide you (from the title company of course) a preliminary copy of your settlement statement, known in the industry as a HUD-1 form. On that form should be listed every single cost associated with your purchase and the number of dollars for you to bring.

A review of that statement should eliminate any surprises, and since the transaction will close the same day (you don't have the 3 days to change your mind like you do in a refinance) you should be totally comfortable before you even sit down. One last thought: If you hear these words "Just sign it and we'll fix it later." bring the proceedings to a screeching halt.

Good luck in your closing. If you have chosen well with your Realtor and loan officer it should be a painless experience.

If your Loan Officer is good at what he does, then when you get to the closing table, you should be able to come very close to what he/she provided to you for your Good Faith Estimate. The majority of the fees on the good faith estimate should be there when you initially signed the loan papers. The only fees that should really vary are the title company fees. The way that the Loan Officer should combat against any unknown fees is to put in a "worst case" scenario good faith estimate. That way, you will ALWAYS have to pay less money at the closing table then you had thought.

The morgage company fees the most hidden ones. The Underwrting costs, origination fees,credit check fees ect. Not all places charge these, so double check with your lawyer or title company and see what is on your closing statement.

watch for the "mortgage company" fees and if you used a broker look for their fees as well. If you have a good attorney, he will be looking at those fees for you as well and will point out or help you fight some of the fees if they are out of line. At least you'll know your getting your money's worth from the attorney.

Other than slight variations for per diems etc., your closing costs should be pretty much as disclosed to you in the Good Faith Estimate of Closing Costs and Truth In Lending Disclosure your lender was required to provide to you within 3 days of your making loan applicaiton. Call your loan officer and request he/she attend the closing. Take that form with you to closing so that you may compare them. Request explainations of any variations. Your are entitled to understand who you are paying and why.