Non-recurring (one-time expense) Closing Cost: “NOTARY” Fee.
When signing loan documents, you need an authorized witness, a NOTARY. Typically, this is a buyer expense.
*CLOSING COST are different than your Down Payment. Your Down payment is applied to your loan. (Ex: Home cost $100,000 and you put down $5,000, your loan amount will be $95,000). CLOSING COST are additional fees to get the loan and for processing the paperwork to buy a home.