--- title: "Home Buying 101: Closing Costs" description: I’m often asked, “How much are closing costs?” Something that first time home buyers need to especially be aware of and educated on are the two types of closing costs. image: http://www.inspiragroup.com/hubfs/Blog_Images/ins-blog-image-2.png --- [![Inspira Group Irvine Real Estate](https://www.inspiragroup.com/hs-fs/file-507215217-png/Logos/Inspira-Group-Logo-with-Tag.png?width=285&height=94&name=Inspira-Group-Logo-with-Tag.png "Inspira Group Irvine Real Estate")](https://www.inspiragroup.com/)       [(949) 387-0500](tel:19493870500) - [About](https://www.inspiragroup.com/about-us) - [Our Team](https://www.inspiragroup.com/about-us/our-team) - [Why Inspira?](https://www.inspiragroup.com/services) - [Home Buying](https://www.inspiragroup.com/services/home-buying) - [Home Selling](https://www.inspiragroup.com/services/home-selling) - [Home Financing](https://www.inspiragroup.com/services/home-financing) - [Success Stories](https://www.inspiragroup.com/success-stories) - [Contact](https://www.inspiragroup.com/contact-us) - [Blog](https://www.inspiragroup.com/blog) [949-387-0500](tel:949-387-0500) [![logo-2.png](https://www.inspiragroup.com/hs-fs/hubfs/images/main-logo.png?width=358&name=main-logo.png "logo-2.png")](https://www.inspiragroup.com/) - [About](https://www.inspiragroup.com/about-us) - [Our Team](https://www.inspiragroup.com/about-us/our-team) - [Why Inspira?](https://www.inspiragroup.com/services) - [Home Buying](https://www.inspiragroup.com/services/home-buying) - [Home Selling](https://www.inspiragroup.com/services/home-selling) - [Home Financing](https://www.inspiragroup.com/services/home-financing) - [Success Stories](https://www.inspiragroup.com/success-stories) - [Contact](https://www.inspiragroup.com/contact-us) - [Blog](https://www.inspiragroup.com/blog) # Inspira Group Client Success Stories Search [![img-1.jpg](https://www.inspiragroup.com/hs-fs/hubfs/Inspira-group-blog/img-1.jpg?width=345&name=img-1.jpg "img-1.jpg") First Time Buyers](https://www.inspiragroup.com/success-stories/topic/first-time-buyer) [![Mike & Briana](https://www.inspiragroup.com/hs-fs/hubfs/Blog_Images/Success_Stories_Images/Mike__Briana_-_Feature_Size.png?width=84&name=Mike__Briana_-_Feature_Size.png "Mike & Briana")](https://www.inspiragroup.com/success-stories/mike-and-briana) #### Mike & Briana - First Time Homebuyers Who... Mike and Briana were on the hunt for their first home... [Watch Now](https://www.inspiragroup.com/success-stories/mike-and-briana). [![Thao & Katheryn](https://www.inspiragroup.com/hs-fs/hubfs/Blog_Images/Success_Stories_Images/Thao__Katheryn_-_Feature_Size.png?width=83&name=Thao__Katheryn_-_Feature_Size.png "Thao & Katheryn")](https://www.inspiragroup.com/success-stories/thao-and-katheryn) #### Thao & Katheryn - My ONE Dream (Came True) Thao & Katheryn came to Inspira looking for... [Watch Now](https://www.inspiragroup.com/success-stories/thao-and-katheryn). [![Tara & Jeff](https://www.inspiragroup.com/hs-fs/hubfs/Blog_Images/Success_Stories_Images/Tara__Jeff_-_Feature_Size.png?width=83&name=Tara__Jeff_-_Feature_Size.png "Tara & Jeff")](https://www.inspiragroup.com/success-stories/tara-and-jeff) #### Tara & Jeff - One Stop Shop for First Time... Tara & Jeff came to Inspira looking for... [Watch Now](https://www.inspiragroup.com/success-stories/tara-and-jeff). [![img-2.jpg](https://www.inspiragroup.com/hubfs/Inspira-group-blog/img-2.jpg "img-2.jpg") Move-Up Buyers](https://www.inspiragroup.com/success-stories/topic/move-up-buyers) [![Manjari & Jeetal](https://www.inspiragroup.com/hs-fs/hubfs/Blog_Images/Success_Stories_Images/Manjari__Jeetal_-_Feature_Size.png?width=83&name=Manjari__Jeetal_-_Feature_Size.png "Manjari & Jeetal")](https://www.inspiragroup.com/success-stories/manjari-and-jeetal) #### Manjari & Jeetal - In Bob We Trust Manjari & Jeetal came to Inspira looking for... [Watch Now](https://www.inspiragroup.com/success-stories/manjari-and-jeetal). [![Simonah & Chaz](https://www.inspiragroup.com/hs-fs/hubfs/Blog_Images/Success_Stories_Images/Simonah__Chaz_-_Feature_Size.png?width=83&name=Simonah__Chaz_-_Feature_Size.png "Simonah & Chaz")](https://www.inspiragroup.com/success-stories/simonah-and-chaz) #### Simonah & Chaz - Easy! Followed Bob's Advice Simonah & Chaz came to Inspira looking for... 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[![img-3.jpg](https://www.inspiragroup.com/hs-fs/hubfs/Inspira-group-blog/img-3.jpg?width=345&name=img-3.jpg "img-3.jpg") Relocation Buyers](https://www.inspiragroup.com/success-stories/topic/relocation-buyers) [![Andrew F.](https://www.inspiragroup.com/hs-fs/hubfs/Blog_Images/Success_Stories_Images/Andrew_F._-_Feature_Size.png?width=83&name=Andrew_F._-_Feature_Size.png "Andrew F.")](https://www.inspiragroup.com/success-stories/andrew-f) #### Andrew F. - Relocating Professional Andrew F. came to Inspira looking for... [Watch Now](https://www.inspiragroup.com/success-stories/andrew-f). [![Lisa & Trey](https://www.inspiragroup.com/hs-fs/hubfs/Blog_Images/Success_Stories_Images/Lisa__Trey_-_Feature_Size.png?width=83&name=Lisa__Trey_-_Feature_Size.png "Lisa & Trey")](https://www.inspiragroup.com/success-stories/lisa-and-trey) #### Lisa & Trey - Relocation Through Yelp Lisa & Trey came to Inspira looking for... [Watch Now](https://www.inspiragroup.com/success-stories/lisa-and-trey). [![Mal & Theresa](https://www.inspiragroup.com/hs-fs/hubfs/Blog_Images/Success_Stories_Images/Mal__Theresa_-_Feature_Size.png?width=83&name=Mal__Theresa_-_Feature_Size.png "Mal & Theresa")](https://www.inspiragroup.com/success-stories/mal-and-theresa) #### Mal & Theresa - Relocation & One Stop... Mal & Theresa came to Inspira looking for... [Watch Now](https://www.inspiragroup.com/success-stories/mal-and-theresa). ## Home Buying 101: Closing Costs Posted by [Bob Dalsimer](https://www.inspiragroup.com/video-blog/author/bob-dalsimer) - [Tweet](https://twitter.com/share) ![Home Closing Costs](http://www.inspiragroup.com/hubfs/Blog_Images/ins-blog-image-2.png "Home Closing Costs") I’m often asked, “How much are closing costs?” By being well-informed and educated on every aspect of the home buying and loan process, you can enjoy the experience even more and [make sure it’s a time full of happy memories](https://inspiragroup.wistia.com/medias/94brsjk2ql). Something that first time home buyers need to especially be aware of and educated on are closing costs. ## **There are two types of closing costs:** ### **1) Non-Recurring Closing Costs and 2) Recurring Closing Costs.** “Non-Recurring Closing Costs” (NRCCs) are one-time, and are transaction costs. Some examples of NRCCs are escrow, title fees, home appraisal, home inspections, recording fees, and lender fees. “Recurring Closing Costs”, or pre-paid items, are monthly or annual charges that are continuously paid. Some examples of RCCs are interest, property taxes, hazard insurance, or mortgage insurance (if applicable). Typical RCCs are prepaid interest, one-year home insurance, and setting up an impound account. Below is a table of typical RCCs and NRCCs: | ##  Buyer NRCCs,  *One Time*  | ##  Buyer RCCs,  *Recurring * | | --- | --- | | ###  Escrow | ###  Taxes | | ###  Title Fees | ###  Interest | | ###  Home Appraisal | ###  Hazard Insurance | | ###  Home Inspection | ###  Mortgage Insurance  (if applicable) | | ###  Lender Fees | | | ###  Recording Fees | |   Once you have applied for a loan, your mortgage banker or mortgage broker will give you a Loan Estimate (LE) within three days to show you the estimated closing costs for your home purchase. If you would like to see a real example of a closing statement recently used for a client that breaks down NRCCs and RCCs, [click here](https://www.inspiragroup.com/hubfs/Purchase_checkmarks_1.pdf). (In this example, NRCCs are marked with checkmarks and RCCs are marked with circles.) Closing costs are easy to understand when you know which costs are NRCCs and RCCs. This will help make your home buying process smooth. To find out more about specific closing costs for your new home, contact the expert team at Inspira Group today. [![Have Questions? I'm Here to Help!](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/349540/63fde613-1bd2-426c-b80d-3ed2d08a7d84.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/349540/63fde613-1bd2-426c-b80d-3ed2d08a7d84) Topics: [First Time Buyer](https://www.inspiragroup.com/video-blog/topic/first-time-buyer) [![New Call-to-action](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/349540/0738fcbd-0c04-43d2-988c-9ca548a305a9.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/349540/0738fcbd-0c04-43d2-988c-9ca548a305a9) Inspira Group, Inc. 9070 Irvine Center Drive, Suite 250 Irvine, CA 92618 CA DRE #1793455, NMLS #335462 Email: [info@inspiragroup.com](mailto:info@inspiragroup.com) [(949) 387-0500](tel:949-387-0500) Tel (949) 600-5401 Fax Contact us today for a no-obligation assessment of your buying, selling, and/or financing needs. We are an Equal Opportunity Lender. 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