Sticker shock at the closing table is the last thing you want. If you are buying a home in Delaware, Ohio, the best way to protect your budget is to know which fees are coming, when they are due, and where you may be able to save. You will see a mix of lender charges, third-party services, prepaid items, and local recording fees. In this guide, you will learn typical ranges, Ohio-specific details, a simple timeline, and smart ways to lower your out-of-pocket costs. Let’s dive in.
What are closing costs
Closing costs are the one-time fees you pay to get your mortgage and transfer ownership into your name. They are separate from your down payment. Nationally, a typical range is about 2% to 5% of the purchase price, which aligns with guidance from the Consumer Financial Protection Bureau. You can review a clear overview in the CFPB’s resource on closing costs and fees.
For a $300,000 home, 2% equals about $6,000 and 5% equals about $15,000. Your actual number depends on your loan type, the date you close, insurance costs, and any seller credits you negotiate.
Lender-related fees
These are costs charged by your mortgage lender to process and fund your loan.
- Origination or lender fee. Often 0.5% to 1.5% of the loan amount. Some lenders offer low or no origination but raise the interest rate to offset it.
- Discount points. Optional prepaid interest you can buy to lower your rate. One point equals 1% of the loan amount.
- Application, processing, underwriting. Commonly $300 to $1,200 combined. Your Loan Estimate will itemize these.
Third-party fees required by your lender
Your lender will order several services from outside providers. You pay for these at closing or as they occur.
- Appraisal. Often $350 to $700 for a typical single-family home in Ohio. Unique or complex properties may cost more.
- Credit report and flood certification. These are small fees that verify your credit and flood risk.
- Title search, closing, and title insurance. The title company or attorney researches ownership, clears liens, and conducts your closing. You will pay for a lender’s title insurance policy and can choose to add an owner’s policy for your protection. For background on title insurance, review the Ohio Department of Insurance and consumer resources from the American Land Title Association.
- Survey. If required, expect several hundred dollars depending on lot size and complexity.
Inspections and condition checks
Most buyers in Delaware order inspections to understand a home’s condition. These can be paid during the inspection period or at closing, depending on the provider.
- General home inspection. Often $300 to $600 for typical homes.
- Termite, radon, well, septic, roof or chimney. Each may add $75 to $600 depending on scope.
You can sometimes use findings to negotiate repairs or credits with the seller.
Prepaids and escrow deposits
Prepaids cover upcoming bills so your loan starts on solid footing. Escrows are reserves your lender holds to pay taxes and insurance when due.
- Homeowners insurance. Many lenders collect the first year’s premium at closing.
- Prepaid interest. You pay daily interest from the day you close until the end of that month. A month-end closing lowers this line.
- Escrow deposits. Lenders commonly collect two to three months of property taxes and insurance to seed your escrow account.
Taxes, recording, and local fees in Delaware County
Ohio handles property taxes at the county level. In Delaware County, you will see prorated property taxes on your Closing Disclosure. You usually reimburse the seller for the portion of the tax period after your closing date. For current tax schedules and rates, check the Ohio Department of Taxation and confirm details with the Delaware County Auditor and Treasurer.
You will also see recording charges for the deed and mortgage, and any county document fees. These are set by the county and usually total in the tens to a few hundred dollars, depending on how many documents are recorded. For the most accurate figures, your title company will quote the Delaware County Recorder’s current fees during your transaction.
What affects your total cash to close
Several variables can push your costs up or down. Keep these in mind as you plan.
- Purchase price and loan amount. Higher prices mean larger percentage-based fees and title premiums.
- Loan type. FHA, VA, and conventional loans handle fees and allowable seller credits differently. Check current guidance from HUD, Fannie Mae, and Freddie Mac and confirm specifics with your lender.
- Closing date. Interest is prorated to month end, so a late-month closing reduces prepaid interest.
- Escrow setup. If taxes or insurance are due soon after you close, your lender may collect more months upfront.
- Negotiated credits. Seller-paid closing costs and lender credits can reduce what you bring to closing.
A simple example for a $300,000 purchase
Every deal is unique, but here is a ballpark view to frame your budget. Numbers are based on common Ohio ranges and include prepaids and escrows.
- Total closing costs and prepaids at 2% to 5%. Approximately $6,000 to $15,000.
- Typical items within that range. Lender charges, appraisal, credit report, title search and insurance, recording fees, inspections you choose, first-year insurance premium, prepaid interest, and initial escrow deposits.
- What changes your result. Inspection choices, HOA fees, your rate-and-points decision, property tax timing, and any seller or lender credits.
Use your lender’s Loan Estimate and then the Closing Disclosure for transaction-specific numbers.
Your documents and timeline
You will see your costs laid out twice: early on and again before you close.
- Loan Estimate within 3 business days. After you apply, your lender will send a Loan Estimate that lists your estimated closing costs and projected cash to close. Learn more in the CFPB’s guide to the Loan Estimate.
- Closing Disclosure at least 3 business days before signing. This is the final itemization of every dollar due. Compare it to your Loan Estimate and ask about any changes. See the CFPB’s overview of the Closing Disclosure.
- Typical schedule. Inspections, appraisal, and title work happen in the first 1 to 4 weeks after contract. Three business days before closing, you receive the Closing Disclosure. On closing day, you bring a cashier’s check or send a verified wire to cover your cash to close.
How to lower out-of-pocket costs
You can influence several line items with planning and negotiation.
- Ask for seller concessions. Many buyers negotiate seller-paid credits that cover part of their closing costs. Limits depend on your loan program and down payment, so confirm caps with your lender.
- Shop for services. You can often choose your title company and compare lender fees. Ask for written quotes.
- Consider points and rate trade-offs. If you plan to own the home for many years, paying points to lower your rate could make sense. If you plan to move sooner, a higher rate with lower upfront costs may be better.
- Time your closing date. A late-month closing can reduce prepaid interest. Your lender can model the difference for you.
- Review insurance options. Compare homeowners insurance quotes early. A lower premium reduces both your prepaid and escrow deposit.
Delaware, OH buyer checklist
Before you head to the closing table, confirm these details so there are no surprises.
- Review your Loan Estimate and Closing Disclosure line by line. Ask for explanations of any changes.
- Verify your settlement agent’s wiring instructions by phone using a known, trusted number. Wire fraud is real, so never rely only on email.
- Ask your lender if your loan requires an escrow account and how many months of taxes and insurance they will collect.
- Confirm the Delaware County recording charges and any conveyance-related fees with your title company.
- Check tax billing cycles and current rates. Use the Ohio Department of Taxation as a starting point, then confirm with Delaware County offices.
- Budget for inspections and potential repairs. Include any HOA transfer or document fees if the home has an association.
- Bring the right funds and ID. Plan for a cashier’s check or verified wire and a government-issued photo ID.
Common pitfalls to avoid
- Waiting to compare quotes. Lender and title fees can vary. Shop early so you can make informed choices.
- Ignoring the LE and CD. These two documents are your road map. Compare them closely and speak up if something does not make sense.
- Overlooking insurance. Start quotes early so your premium and escrow numbers are accurate before you get the CD.
- Not confirming prorations. Ask your title company how Delaware County tax timing affects your escrow and your reimbursement to the seller.
The bottom line for Delaware buyers
Plan for roughly 2% to 5% of the purchase price for closing costs, including prepaids and escrow deposits. Your exact number will depend on your loan, the timing of your closing, and local tax schedules. Lean on your Loan Estimate and Closing Disclosure, ask questions, and use negotiation and smart timing to keep more cash in your pocket. When you want local guidance on fees, timelines, and how to structure a winning offer with sensible costs, we are here to help.
Ready to talk through your numbers and next steps in Delaware, Ohio? Reach out to Unknown Company for clear, local guidance from contract to keys.
FAQs
How much should a Delaware, OH buyer budget for closing costs
- Plan for about 2% to 5% of the purchase price, which aligns with CFPB guidance, plus any inspections and prepaid items specific to your loan.
What fees do buyers typically pay vs sellers in Delaware County
- Buyers usually pay lender fees, appraisal, credit report, inspections, title search and lender’s title policy, recording charges, and prepaids. Sellers often pay the owner’s title policy and their own transfer-related costs, but this can be negotiated.
When will I see my final cash to close before buying in Delaware, OH
- Your lender must deliver a Closing Disclosure at least 3 business days before closing. Review it and compare it to your Loan Estimate.
Can a Delaware seller pay some of my closing costs
- Yes, seller credits are common, but limits depend on your loan program and down payment. Check current caps with your lender and structure your offer accordingly.
How do Ohio property taxes affect my closing costs and escrow
- In Delaware County, taxes are prorated at closing and your lender will likely collect several months of taxes for your escrow account. Confirm current tax schedules with county offices and your title company.
