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What’s Included in Closing Costs?

PennyMac

In some states, you need an attorney to close on your home. This fee will cover the attorney preparing and reviewing agreements and contracts. An escrow account is a special account that holds money for property taxes, premiums, homeowners insurance and mortgage insurance. Property Appraisal Fee.

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GSEs further expand AVMs, desktop and hybrid appraisals

Housing Wire

Fannie Mae and Freddie Mac’s equitable housing finance plans further expand non-traditional property appraisals, which sometimes rely on property tax information, data collected by third parties, or algorithms to assess a property’s value. Both GSEs argue that these approaches advance equity.

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