Many times buyers think the downpayment is the only expense when it comes to purchasing a home, however, closing costs are a big expense that is part of the home buying process. Now this can be negotiated from the seller but it's not always guaranteed or even an option if there are multiple offers on the table. Closing costs to the buyers are fees related to closing on the house such as your mortgage fees and title. For a more comprehensive list, we have created a blog specifically outlining closing costs for a buyer. Closing costs are typically about 3% of the total purchase price, but your lender will be able to verify the exact amount based on the home.