Closing Costs In Columbus: What Buyers Should Expect

Buying a home in Columbus and not sure how much to bring to the closing table? You are not alone. The list of fees, prepaids, and prorations can feel like a maze when you are focused on getting your keys. In this guide, you will learn what buyer closing costs usually include in Franklin County, how much to budget, and simple ways to reduce your cash to close. You will also get a practical checklist to keep you on track. Let’s dive in.

What closing costs cover

Closing costs are the fees and prepaid items due when ownership transfers and your mortgage is funded. They typically include lender charges, title and settlement services, government recording fees, and prorations for items like property taxes or HOA dues. You may also see credits or concessions that lower what you owe.

Your lender must use standardized disclosures to show these numbers. You will receive a Loan Estimate soon after you apply and a Closing Disclosure at least three business days before you sign. These documents clearly list every line item and your exact cash to close.

How much to budget in Columbus

A helpful planning range for buyer closing costs is about 2% to 5% of the purchase price, not including your down payment. The final number depends on your loan type, the fees charged by your lender and title company, local recording costs, and any credits negotiated with the seller.

If you are buying a $300,000 home, that range would be roughly $6,000 to $15,000. Treat this as a starting point. Your Loan Estimate and your title company’s quote will give you a more precise figure.

Who usually pays what

Customs vary by market and by contract, but here is what you will often see in Columbus and Franklin County.

Buyer typically pays

• Lender fees such as origination and underwriting. These may be a percentage of the loan amount or a flat fee.
• Appraisal to support the lender’s underwriting. This is usually several hundred dollars and is often collected upfront.
• Credit report fee, which is a small flat charge.
• Optional discount points if you choose to buy down your interest rate.
• Title search and the lender’s title insurance policy, which protects the lender up to the loan amount.
• Settlement or escrow fee charged by the closing agent or title company. This varies by company and can be split or negotiated.
• Recording fees for the new deed and mortgage with the county recorder.
• Survey if required by your lender or desired for boundary clarity.
• Home inspections and any specialty inspections you order before closing.
• Prepaid interest, first‑year homeowners insurance, and initial escrow deposits for taxes and insurance.

Seller typically pays

• Real estate commissions, which are negotiated and often the largest single seller expense.
• Payoff of the seller’s mortgage and the recording of the mortgage release.
• Prorated property taxes and utilities up to the day of closing.
• Owner’s title insurance policy is seller‑paid in many markets, but this is negotiable. Confirm the custom on your purchase and what your contract states.

The final allocation of costs is negotiated and will appear on your Closing Disclosure.

Prepaids and escrows made simple

Prepaids and escrow deposits are not fees. They are advance payments that prepare your loan and escrow account for upcoming bills.

• Prepaid interest: You will pay daily interest from the day your loan funds through the end of that period before your first payment. Closing later in the month usually reduces this amount.
• Homeowners insurance: Lenders typically require the first year’s premium to be paid at or before closing.
• Property tax prorations and escrow reserves: Taxes are prorated between buyer and seller based on the closing date. Your lender may also collect a few months of taxes and insurance to seed your escrow account so future bills can be paid on time.

These items increase cash to close but are not additional lender charges. They prepare you for your first several months of ownership.

Title insurance and settlement fees

The title company researches the public record to confirm who owns the property and whether any liens must be cleared before you can take title.

• Title search: A one‑time charge for examining the record.
• Lender’s title insurance: Required by most lenders to protect their interest up to the loan amount.
• Owner’s title insurance: Optional in some states but commonly purchased. It protects your equity as the new owner.
• Settlement or escrow fee: The closing agent’s charge to coordinate the transaction, collect funds, and record documents. This varies and may be split or negotiated.

Title insurance premiums are usually based on the purchase price and loan amount. Ask your title company for a quote early so you can budget with confidence.

Recording and transfer charges in Franklin County

Government charges include recording fees for the deed and the mortgage with the county recorder. Fees are set at the county level and can include per‑document or per‑page charges.

Ohio does not have a statewide document stamp like some states. Counties and municipalities may have their own transfer or conveyance fees. For the most accurate numbers in Franklin County, ask your title or settlement company to confirm current deed and mortgage recording fees and any applicable conveyance charges.

Ways to lower your cash to close

You have options to bring less cash to the table. Each choice has tradeoffs, so review scenarios with your lender.

Negotiate seller concessions

You can ask the seller to contribute a set dollar amount or percentage toward your closing costs. There are limits based on loan program rules, and the concession must be written into the purchase agreement.

Ask the seller to pay specific items

Instead of a general credit, you can request seller payment for certain costs, such as the owner’s title policy, HOA transfer fees, or settlement fees. What is customary can vary, and the final decision is a negotiation point.

Consider lender credits

Many lenders offer a credit in exchange for a slightly higher interest rate. This can offset your upfront costs, though you may pay more over time because of the higher rate.

Finance some costs

If your program allows and the appraisal supports the price, you can pair seller credits with your loan to reduce cash due at closing. Some buyers also choose a loan option that incorporates lender‑paid closing costs at a higher rate.

Shop lenders and title companies

Fees differ between lenders and settlement providers. Compare Loan Estimates from at least two lenders, and ask the title company for a written quote so you can compare settlement and search fees.

Explore assistance programs

• Ohio Housing Finance Agency programs may include down payment or closing cost assistance tied to specific mortgages.
• City of Columbus and Franklin County programs can provide grants or forgivable loans for eligible buyers in certain areas.
• HUD‑approved housing counselors and local nonprofits can help with education and program navigation.

Eligibility, income limits, and documentation requirements vary. Ask your lender which programs they can pair with your loan.

Use gift funds and timing strategies

Many loan programs allow gifts from family for part or all of your down payment and closing costs with proper documentation. You can also reduce prepaid interest by closing later in the month if that fits the contract timeline.

Checklist to stay on track

• Request a Loan Estimate from at least two lenders and compare total closing costs and APR.
• Confirm who pays for the owner’s title policy in your contract and budget accordingly.
• Ask your title company for a title insurance quote and settlement fee estimate.
• Request current Franklin County deed and mortgage recording fees from your settlement agent.
• If the home is in an HOA, ask about transfer and resale package fees and who pays them.
• Put any seller concessions in writing within the purchase agreement and verify your lender allows the amount.
• Review your Closing Disclosure carefully at least three business days before signing.
• Bring certified funds or follow verified wire instructions. Always confirm wiring details by phone with the title company to avoid fraud.

Example: $300,000 Columbus home

Planning numbers can help you prepare. For a $300,000 purchase, a typical buyer closing cost range is about $6,000 to $12,000, depending on your loan and negotiated credits. This estimate usually includes lender fees, appraisal, title search and lender’s title policy, settlement fee, prepaid interest, first‑year homeowners insurance, and initial escrow reserves for taxes and insurance.

On the seller side, common expenses include agent commissions, the owner’s title policy if customary or negotiated, payoff of any existing mortgage, and prorated taxes. Your Closing Disclosure will show the final allocation.

Work with a local guide

You deserve clear answers and a smooth closing. As a Columbus agent with hands‑on construction and negotiation experience, I help you compare Loan Estimates, spot ways to lower cash to close, and coordinate details with your lender and title company so there are no surprises on signing day. If you are planning a purchase in Columbus or nearby suburbs, let’s map out your numbers early and build a winning plan.

Ready to get started? Connect with Bryce G Smith to schedule a free consultation.

FAQs

How much are buyer closing costs in Columbus?

• Most buyers should plan for about 2% to 5% of the purchase price, excluding the down payment, with the exact amount shown on your Loan Estimate and Closing Disclosure.

What closing costs can the seller pay in Franklin County?

• Sellers can contribute concessions toward your closing costs or pay specific items like an owner’s title policy if negotiated, subject to loan program limits stated in your contract.

What are prepaids and escrow reserves at closing?

• Prepaids include daily interest from closing to your first payment and the first‑year homeowners insurance; escrow reserves are a few months of taxes and insurance collected to fund your escrow account.

How do I estimate recording and transfer fees locally?

• Ask your title or settlement company for current Franklin County deed and mortgage recording fees and any conveyance charges, since these are set at the county or municipal level.

Does closing later in the month lower what I bring to closing?

• Often yes, because prepaid interest covers fewer days, though your fixed fees stay the same; coordinate your timing with the seller and your lender.

Which documents show my final cash to close?

• Your Loan Estimate provides early projections and your Closing Disclosure, delivered at least three business days before closing, lists the exact amount you will need to bring.