Closing costs
One-time fees paid at closing, separate from the price itself, such as loan application, credit report, appraisal, inspection, title insurance and survey fees. New Jersey's banking department tells buyers to expect about 3 to 4 percent of the sale price.
New Jersey example
Made-up example: on a $400,000 house, 3 to 4 percent works out to about $12,000 to $16,000 in closing costs, on top of the down payment. The lender's estimate is only an estimate, so compare it with the actual charges before closing and ask the lender about any differences.
Official source
Buying a home: consumer guide, New Jersey Department of Banking and Insurance
This is a plain-English summary. Rules and dollar amounts change, so check the official source or a professional before you file or sign anything.