But the number that blindsides buyers at the closing table is the one nobody warned them about.
Closing costs typically run 2% to 6% of a home's purchase price, according to consumer finance data, which on a $400,000 house means an extra $8,000 to $24,000 due the same day you sign.
That is real money that most first-time buyers never budget for.
It sits outside the down payment, outside the moving truck, outside the new couch.
A grab bag of fees: loan origination, appraisal, title search and title insurance, credit report pulls, recording fees, transfer taxes, prepaid property taxes, and homeowners insurance escrow.
The Consumer Financial Protection Bureau breaks them into three buckets — costs you can shop for, costs you can't, and costs tied to how long you'll stay in the home.
Lenders are required to hand you a Loan Estimate within three business days of your application, then a Closing Disclosure three business days before closing.
The law exists so you can compare the two documents side by side.
Watch for "junk fees" that balloon between those two documents.
The CFPB has flagged title insurance and lender's title as areas where costs creep up.
If a fee on your Closing Disclosure is higher than what showed up on your Loan Estimate, you are allowed to ask why — and you can push back before the pen touches paper.
In many markets, a buyer can negotiate seller concessions to cover part of closing costs, especially in a slower market where buyers have leverage.
Some states also offer first-time buyer grants or down payment assistance programs that specifically cover closing costs.
Your lender picks the title company in some deals, but in many states you are free to choose your own title insurer and save.
Ask for a written quote from at least two providers.
The same goes for homeowners insurance, which is bundled into your prepaid costs.
One easy trick: estimate 3% of the purchase price as a rough planning number, then add a cushion.
On a $350,000 home, plan for around $10,500 and expect it to move in either direction.
Build it into your savings goal months before you start house hunting so it doesn't wreck your budget at the finish line.
The bottom line: closing costs are not a surprise if you read the paperwork and ask hard questions.
Final Thoughts
Treat those two disclosure documents like a receipt you actually need to check — because on closing day, the difference between a calm signing and a panic attack can be one line item you never noticed.