estimated closing fees
Typically two to five percent of the loan amount, this is an estimate of the total fees that must be paid on or before the closing date. These fees must be paid by the buyer and seller for services, tax and other costs associated with obtaining the mortgage, and will vary based on the lender, property location and mortgage type involved.
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The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
estimated
Verb: estimate, gauge, approximate, guess, judge (judge tentatively or form an estimate of (quantities or time)) "I estimate this chicken to weigh three pounds"
Verb: calculate, estimate, reckon, count on, figure, forecast (judge to be probable)
closing
Noun: shutting, closing (the act of closing something)
Noun: conclusion, end, close, closing, ending (the last section of a communication) "in conclusion I want to say..."
Noun: closing, closure (approaching a particular destination; a coming closer; a narrowing of a gap) "the ship's rapid rate of closing gave them little time to avoid a collision"
Noun: closure, closedown, closing, shutdown (termination of operations) "they regretted the closure of the day care center"
Noun: completion, culmination, closing, windup, mop up (a concluding action)
Verb: close up, close, fold, shut down, close down (cease to operate or cause to cease operating) "The owners decided to move and to close the factory"; "My business closes every night at 8 P.M."; "close up the shop"
Verb: close (complete a business deal, negotiation, or an agreement) "We closed on the house on Friday"; "They closed the deal on the building"
Verb: close, shut (move so that an opening or passage is obstructed; make shut) "Close the door"; "shut the window"
Verb: close (bar access to) "Due to the accident, the road had to be closed for several hours"
Verb: close (finish or terminate (meetings, speeches, etc.)) "The meeting was closed with a charge by the chairman of the board"
Verb: close (draw near) "The probe closed with the space station"
Verb: conclude, close (come to a close) "The concert closed with a nocturne by Chopin"
Verb: close, shut (become closed) "The windows closed with a loud bang"
Verb: close, come together (come together, as if in an embrace) "Her arms closed around her long lost relative"
Verb: close up, close (unite or bring into contact or bring together the edges of) "close the circuit"; "close a wound"; "close a book"; "close up an umbrella"
Verb: close (bring together all the elements or parts of) "Management closed ranks"
Verb: close (engage at close quarters) "close with the enemy"
Verb: close (be priced or listed when trading stops) "The stock market closed high this Friday"; "My new stocks closed at $59 last night"
Verb: close (cause a window or an application to disappear on a computer desktop)
Verb: close (change one's body stance so that the forward shoulder and foot are closer to the intended point of impact)
Verb: close, fill up (fill or stop up) "Can you close the cracks with caulking?"
Verb: close (finish a game in baseball by protecting a lead) "The relief pitcher closed with two runs in the second inning"
Adjective: closing (final or ending) "the closing stages of the election"; "the closing weeks of the year"; "the closing scene of the film"; "closing remarks"
fees
Noun: fee (a fixed charge for a privilege or for professional services)
Noun: fee (an interest in land capable of being inherited)
Verb: tip, fee, bung (give a tip or gratuity to in return for a service, beyond the compensation agreed on) "Remember to tip the waiter"; "fee the steward"
- estimated closing fees -
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