Wondering how much cash you need at the closing table in Greenville? You are not alone. Whether you are buying your first home or relocating to the Upstate, closing costs can feel confusing and hard to predict. In this guide, you will see what buyer closing costs include, what is typical in Greenville County, what you can negotiate, and simple ways to lower your cash to close. Let’s dive in.
Closing costs at a glance
Closing costs are the upfront fees and prepaid items you pay to complete your purchase. They are separate from your down payment. Nationally, total buyer closing costs often run about 2% to 5% of the purchase price, but your loan program and specific fees can push your number higher or lower.
In Greenville, the main categories you will see include:
- Lender and loan-related fees
- Title, attorney, and settlement fees
- Government recording and transfer-related fees
- Prepaid insurance and taxes, plus escrow reserves
- Other possible costs like inspections or surveys
Loan documents to watch
Your lender must give you two key disclosures on a specific timeline:
- Loan Estimate: Within 3 business days after your completed application. This shows expected lender fees and many third-party costs.
- Closing Disclosure: At least 3 business days before closing. This is the final, itemized statement with your total cash to close.
Review both carefully and ask questions. Comparing these documents across lenders is the best way to understand and control costs.
Loan fees you may see
Here are common lender charges and typical ranges:
- Origination or processing fee: Often a percentage of the loan amount, commonly 0.5% to 1.0%, or a flat fee.
- Underwriting or application fees: About $300 to $1,200, depending on the lender.
- Appraisal fee: In the Greenville area, roughly $400 to $700, depending on property type and complexity.
- Credit report: About $25 to $75.
- Rate-lock fees: Some lenders charge to lock a rate, especially for longer lock periods.
- Mortgage insurance:
- FHA loans include an upfront mortgage insurance premium of about 1.75% of the loan amount, which is often financed into the loan, plus monthly premiums.
- Conventional loans may require private mortgage insurance if you put less than 20% down. It can be monthly or structured as an upfront or single premium.
- Points: Optional. You can pay points (1 point equals 1% of the loan amount) to buy down the interest rate.
Title and attorney fees
In South Carolina, closings may be handled by a title company or an attorney. Fees will cover the title search or exam, the settlement or closing fee, and title insurance.
- Title insurance: Lenders usually require a lender’s policy to protect the lender. An owner’s policy is optional but recommended, and who pays for it is negotiable. Premiums are a one-time charge based on the purchase or loan amount.
- Attorney involvement: Local custom and your settlement agent determine whether an attorney will handle the closing or provide a title opinion. Fees vary.
Government and recording fees
You will pay to record the deed and your mortgage with the Greenville County Register of Deeds. These are generally modest, county-set fees. Local transfer, documentary, or stamp fees can apply based on the transaction. The exact amounts can change, so confirm the latest fee schedule with your closing agent before you sign.
Prepaids and escrow reserves
Lenders typically collect certain prepaids and reserves at closing so your future bills are paid on time:
- Homeowner’s insurance: Usually the first year’s premium is paid at closing.
- Property taxes: Taxes are prorated between buyer and seller. Your lender may also require an initial escrow deposit. A common starting point is about two months of insurance and two months of taxes, but the exact number of months depends on timing and lender rules.
- HOA dues: You may see prorated HOA fees and, in some cases, a transfer fee.
Other possible costs
Depending on your property and loan, you may encounter:
- Inspections: Home, pest, septic, radon, or well inspections. Buyers typically pay before closing. Expect about $300 to $1,000 depending on scope.
- Survey: Sometimes required by the lender.
- Home warranty: Optional. Often $300 to $700 if you choose to purchase one.
What you can negotiate
Some costs are flexible. Others are not. Here is a quick guide:
Ways to reduce cash to close
You can often lower your upfront out-of-pocket:
- Negotiate seller concessions in your offer.
- Request a lender credit in exchange for a slightly higher rate.
- Compare multiple lenders for lower fees and better credits.
- Shop title and closing agents for competitive settlement fees.
- Explore down payment or closing-cost assistance if you qualify. Local programs are sometimes available through Greenville County, the City of Greenville, or local non-profits. Eligibility, income limits, and geography can apply.
Sample cash-to-close math
These simple examples show how closing costs scale with price. They exclude your down payment and assume a wide range of possible line items.
Purchase price $250,000
- 2% closing costs = $5,000
- 5% closing costs = $12,500
Purchase price $350,000
- 2% closing costs = $7,000
- 5% closing costs = $17,500
Purchase price $500,000
- 2% closing costs = $10,000
- 5% closing costs = $25,000
Keep in mind, certain items like FHA upfront mortgage insurance or an owner’s title policy can push the total above the low end. Your Closing Disclosure will show the final “Cash to Close.”
How to read lender documents
Use these tips when you receive your disclosures:
- Loan Estimate: Arrives within 3 business days of your completed application. Focus on the interest rate, APR, lender fees, total closing costs, and estimated cash to close.
- Closing Disclosure: Arrives at least 3 business days before closing. Verify every line item, confirm seller credits and lender credits, and match your expected cash to close.
- Compare: If you shopped lenders, compare similar loan types side by side. Ask for explanations of any fee differences.
Local tips for Greenville buyers
- Confirm recording costs: Ask your settlement agent to verify the latest Greenville County Register of Deeds fees for deeds and mortgages.
- Check title insurance premiums: Rates may be governed by filings with the South Carolina Department of Insurance or aligned with local market practice.
- Clarify who pays what: In the Greenville area, buyers and sellers often negotiate items like the owner’s title policy or certain fees. Your contract sets the final answer.
- Ask about assistance: Local down payment or closing-cost programs can change over time. Contact local housing offices to learn about current options and eligibility.
Questions to ask your team
Questions for your lender
- Can you explain each fee on my Loan Estimate and what is negotiable?
- What are the total lender fees at closing versus what I will pay before closing?
- What appraisal fee do you expect and when is it due?
- How will mortgage insurance be structured for my loan type?
- What prepaids and escrow deposits do you expect for taxes and insurance?
- What are my rate-lock options and any related fees?
- Can you share an updated cash-to-close estimate and provide my Closing Disclosure at least 3 business days before closing?
Questions for your closing agent or attorney
- What are your title search, settlement, and title insurance fees for both the loan policy and optional owner’s policy?
- Are recording fees and county taxes included in your estimate, and can you list the county-specific amounts?
- Will an attorney handle my closing, and who will be present?
- How do you handle escrow accounts for taxes and insurance, and how much will you collect at closing?
- Are there any local transfer or documentary fees for this property?
- Who customarily pays for the owner’s title policy in Greenville transactions, and what does my contract say?
- Can you provide an itemized estimate before closing?
What this means for you
Closing costs in Greenville are manageable when you know what to expect, compare quotes, and plan ahead. Focus on the big levers that move your cash to close: lender fees, credits, seller concessions, title charges, and prepaids. Keep your eye on the Loan Estimate and Closing Disclosure to avoid surprises.
If you want a clear, line-by-line plan tailored to your price point and loan type, reach out to a local guide who will advocate for you from pre-approval to keys in hand. For a personal walkthrough of expected costs and help coordinating with trusted lenders and closing teams, connect with Judy Johnson.
FAQs
What do buyer closing costs include in Greenville?
- They typically include lender fees, title and settlement charges, recording fees, prepaid homeowner’s insurance and taxes, initial escrow deposits, and possible items like inspections or a survey.
How much are closing costs on average in Greenville?
- A common national range is about 2% to 5% of the purchase price, but your loan type, title premiums, and prepaids can move your total up or down.
Who pays for the owner’s title policy in Greenville?
- It is negotiable and set by your purchase contract. In local practice, either party may pay, so ask your agent to confirm what is customary and negotiate on your behalf.
How are property taxes handled at closing in Greenville County?
- Taxes are usually prorated between buyer and seller. Your lender may also collect an initial escrow deposit for future tax bills based on timing and underwriting rules.
Can a seller pay my closing costs in Greenville?
- Yes, seller concessions can be negotiated, but the maximum allowed depends on your loan program. Your lender and agent can explain current limits for your situation.
When do I receive my Closing Disclosure in South Carolina?
- Your lender must provide it at least 3 business days before closing. Review it line by line to confirm the final cash to close and any credits.
