💰 Breaking Down $22K in Closing Costs on a $700K Home in Nassau County

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Aug 5, 2025
2 min read

Updated: Dec 30, 2025

Buying a home is one of the biggest financial decisions you’ll ever make—so understanding your closing costs is just as important as knowing your monthly payment. Here’s a real-world look at what $22,210 in closing costs looks like on a $697,500 property in Nassau County, with an interest rate of 6.875% and a monthly principal & interest (P&I) of $3,665. — Buying a home is one of the biggest financial decisions you’ll ever make—so understanding your closing costs is just as important as knowing your monthly payment. Here’s a real-world look at what $22,210 in closing costs looks like on a $697,500 property in Nassau County, with an interest rate of **6.875%** and a monthly principal & interest (P&I) of **$3,665**.

📊 The Breakdown:

Let’s take a look at where your money goes at the closing table:

Section A – Lender Origination/Points:💸 $1,195This covers the lender’s fees to process your loan—also called "points."
Section B – Services You Cannot Shop For:🧾 $195.45These are required services like credit checks and appraisals, assigned by the lender.
Section C – Services You Can Shop For:🛒 $4,226.68Title insurance, attorney fees, and other services you can choose from.
Section E – Taxes & Recording Fees:🏛️ $5,514.00Covers transfer taxes and recording fees to officially file your ownership with the county.
Section F – Prepaids (Insurance, Taxes):🔁 $4,705Upfront costs for homeowner’s insurance and initial property tax payments.
Section G – Initial Escrow Payment:🏦 $4,063Money held in escrow to ensure your property taxes and insurance can be paid on time.
Section H – Other Costs:📌 $2,669Additional miscellaneous costs that often include things like HOA fees or courier charges.

📌 Why It Matters:

Your Closing Disclosure (CD) is your final financial roadmap before the home officially becomes yours. It's crucial to review it carefully and understand every fee and charge listed. This transparency helps you avoid surprises and sets you up for financial confidence on closing day.

At LJ Mortgage Team Inc., we break down every detail so you know exactly what you're signing. No guesswork. No confusion. Just expert guidance and full transparency.