CNN —
Elevated interest rates and pricier listings have made it even harder to afford a new home. But there is an often-overlooked expense when buying a home: closing costs.
These costs, which are the fees owed on the day you finalize the purchase of a home, have risen in recent years. In 2022, the median cost of a loan paid by homebuyers — including origination fees, appraisal and credit report fees, title insurance, discount points and other fees — was $6,000, a nearly 22% increase from 2021, according to a report from the Consumer Financial Protection
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