Video transcript: Closing Costs & Fees
Note:
This video uses text, infographics, and animated illustrations to reinforce spoken content. Light music plays.
On screen:
Closing costs & fees.
Logo:
The Chase octagon symbol.
On screen:
A couple stands in front of a brick house with a "For Sale" sign on the lawn.
Narrator:
You've made it to the final step of your home buying journey and now it's time to close on your loan. But before you receive the keys to your new home, there might be some closing costs and fees that catch some first-time homebuyers off guard.
On screen:
An illustration of a Closing Disclosure document appears.
Narrator:
A few days before closing, you'll receive a Closing Disclosure that outlines all of the costs and fees you'll need to pay.
On screen:
- Appraisal fee;
- Attorney fee;
- Origination fee;
- Underwriting fee;
- (and) Title fees.
Narrator:
You'll need to bring a cashier's check or proof of wire transfer to closing to cover these costs.
On screen:
- Cashier's check;
- Proof of wire transfer.
On screen:
The couple visits their Chase branch to get a cashier's check.
On screen:
Insurance.
Narrator:
There are also two types of insurance that you'll need to get. Title insurance, a one-time fee due at closing, ensures that you're the sole owner of the property and that the seller has the right to sell you the property. It also confirms that all taxes are paid on the property before you close.
On screen:
- One-time fee;
- Insures ownership;
- (and) Confirms all taxes paid.
Narrator:
The second type, Homeowners Insurance, helps protect your home and property against loss or damage. It can also protect you financially if someone is injured while on your property. Most lenders will require you to have homeowners insurance at closing and for the duration of your loan.
On screen:
- Protects against loss or damage;
- Protects you financially;
- Required by most lenders.
Narrator:
Remember, closing costs and insurance policy needs can vary, so make sure to lean on your home lending advisor for help!
On screen:
The couple sits the Chase branch, meeting with their Home Lending Advisor.
Logo:
The Chase octagon symbol.
On screen:
Chase. Make More of What's Yours (registered trademark).
Note:
Legal disclosures appear.
On screen:
All home lending products are subject to credit and property approval. Rates, program terms and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Other restrictions and limitations apply. Home lending products offered by JPMorgan Chase Bank, N.A. Equal Housing Lender. Copyright {{copyrightCurrentYear}} JPMorgan Chase & Co.