What term is given to mortgage loan costs such as pest inspections, survey fees, and title insurance?

The term "Closing Costs" encompasses a variety of expenses associated with the purchase or refinance of real estate, which includes mortgage loan costs such as pest inspections, survey fees, and title insurance. These costs are incurred during the final stages of a real estate transaction, typically at the closing, when ownership of the property is officially transferred.

Closing costs can consist of several different fees and charges—some paid to third parties for services needed to complete the transaction, and others that support the lenders’ operational processes. Specifically, title insurance protects buyers and lenders from potential losses due to disputes over the ownership of a property, while pest inspections and survey fees can help ensure that the property is free from infestations and that property boundaries are clearly defined.

Other terms listed, such as "Borrower Fees," generally refer specifically to costs charged directly by the lender to the borrower, which may not include all the ancillary costs that fall under closing costs. "Service Fees" are too vague and do not specifically refer to the array of costs involved in finalizing a real estate transaction. "Appraisal Fees," while part of the larger closing costs, refer specifically to the charge for determining the value of the property rather than all associated costs. Therefore, "Closing Costs" is the