Wondering how much cash you will actually need to close on a home in Simpsonville? You are not alone. Closing costs can feel like a moving target when you are pricing homes, comparing loans, and trying to plan a realistic budget. In this guide, you will see what buyers in Simpsonville typically pay, what each fee covers, ways to reduce costs, and when to ask for firm estimates so there are no surprises. Let’s dive in.
What Simpsonville buyers typically pay
Most buyers can plan for about 2% to 5% of the purchase price in closing costs, separate from your down payment. That range reflects lender fees, third‑party services, title and recording, and prepaid taxes and insurance. The Consumer Financial Protection Bureau explains this range and what is included in closing costs.
Here are simple ballpark totals to help you plan:
- $200,000 home: roughly $4,000 to $10,000
- $350,000 home: roughly $7,000 to $17,500
- $500,000 home: roughly $10,000 to $25,000
These totals do not include your down payment or optional repairs and improvements. Home inspections are often paid before closing and are usually not part of your Closing Disclosure.
What your closing costs cover
Loan costs you pay to the lender
- Origination, processing, and administrative fees: typically $400 to $3,000, or about 0.25% to 1% of the loan amount.
- Discount points to lower your rate: optional, each point costs 1% of the loan amount. Buyers sometimes pay 0 to 2 points.
- Appraisal: typically $400 to $800 for a single‑family home in the Greenville/Simpsonville area.
- Smaller lender and verification fees: credit report, underwriting, flood certification, tax service, and automated valuation tools often add $100 to $800.
For a plain‑English overview of these items and how they appear on your Loan Estimate and Closing Disclosure, review the Consumer Financial Protection Bureau’s mortgage closing resources.
Prepaid items and escrow deposits
- Homeowners insurance: first‑year premium or a partial premium is collected at closing. Many local policies for typical homes run about $700 to $2,000 annually, but your coverage choices matter.
- Property taxes and prorations: taxes are divided between buyer and seller based on the closing date. Your lender may also collect initial deposits for an escrow account.
- Prepaid interest: you may pay a few days to a month of interest, depending on when you close in the billing cycle.
- Initial escrow account deposit: if required, lenders often collect 2 to 3 months of taxes and insurance to start your escrow.
For current property tax millage and schedules, check the Greenville County government site.
Title, settlement, and recording
- Title search and exam: typically $200 to $500.
- Title insurance: the lender’s policy is required and is based on the loan amount, commonly around 0.2% to 0.6%. An owner’s policy is optional but recommended, and often runs about 0.5% to 1% of the purchase price. Who pays can depend on your contract.
- Settlement or closing fee: typically $300 to $800.
- Recording fees: usually modest, from a few dozen to a few hundred dollars depending on documents. For procedures and current fees, consult the Greenville County website for the Register of Deeds.
In South Carolina, licensed title/settlement companies or closing attorneys typically handle the settlement. If you need professional contacts, you can reference the South Carolina Bar’s lawyer finder or the South Carolina Land Title Association directories.
Inspections and third‑party reports
- Home inspection: typically $300 to $600 for a single‑family home, more for larger homes or specialty inspections.
- Pest (termite), septic/well, and surveys: often $50 to $500 per service, depending on scope.
Many of these are ordered and paid before closing, so they may not appear on your Closing Disclosure as a due‑at‑closing line item.
HOA and local charges
- HOA transfer or estoppel fees: if the property is in an HOA, budget $100 to $400 for one‑time administrative charges.
- Municipal transfer or impact fees: uncommon, verify with the City of Simpsonville or your title company.
Program‑specific fees (FHA/VA)
Local norms in Greenville County
Who handles the closing
In Greenville County, closings are commonly handled by a title/settlement company or a closing attorney. Your lender and agent can coordinate introductions early so title work, payoff figures, and recording logistics stay on schedule.
Taxes, recording, and where to verify
Property tax rates and recording fees change from time to time. For accurate figures, use official county sources. The Greenville County government site lists assessor, treasurer, and Register of Deeds departments, and provides current schedules and contact details.
Assistance programs in South Carolina
Eligible buyers can apply for help with down payment and closing costs through the South Carolina State Housing Finance and Development Authority. There may also be county or municipal programs. Review eligibility and ask your lender how assistance integrates with your loan.
How to reduce your closing costs
- Negotiate seller credits. Sellers can agree to pay part of your closing costs or provide a credit at closing. This lowers your cash due, but it affects the seller’s net and the competitiveness of your offer. Your loan program limits how much the seller can contribute, so check with your lender early.
- Consider lender credits. Many lenders offer credits that offset closing costs in exchange for a slightly higher interest rate. This reduces upfront cash but increases your monthly payment and total interest over time. Compare scenarios on your Loan Estimate.
- Shop lenders and title services. Fees vary. Request Loan Estimates from 2 to 3 lenders and ask for itemized title and third‑party fees. Compare total costs, not just the rate.
- Ask for fee waivers or reductions. Some lenders reduce application, processing, or underwriting fees for certain customers. Title companies may offer package pricing or loyalty discounts in specific situations.
- Explore assistance programs. State or local assistance can cover some or all of your closing costs if you qualify. Start with SC Housing’s programs and ask your lender which options pair with your loan.
- Use points strategically. Permanent points or temporary buydowns can make sense if you plan to stay long enough to reach the break‑even. Your lender can help you estimate the time horizon.
- Plan inspections and timing. Order required inspections early so any seller‑paid repairs or credits can be negotiated before your financing is finalized. Avoid optional add‑ons until you confirm what your lender and title company require.
For more on comparing lenders and understanding your disclosures, see the CFPB’s home closing tools.
When to get estimates and what to expect
- Before house‑hunting or early in your search
- Get pre‑approved with 2 to 3 lenders. Ask for a sample Loan Estimate based on a target price and down payment.
- Ask about seller credit limits for your loan type so you know what is possible when writing offers.
- Right after your offer is accepted
- Your lender issues a Loan Estimate once your application is complete and orders the appraisal and other required reports.
- Choose your title/settlement company or closing attorney and request an estimate of title fees and expected recording costs.
- Within 3 business days of your application
- Federal rules require your lender to provide the Loan Estimate within 3 business days. Use it to question any unclear or unexpected fees.
- About 3 business days before closing
- You will receive the Closing Disclosure at least 3 business days before settlement. Review it line by line and compare it to your Loan Estimate. The Consumer Financial Protection Bureau explains how the timing and disclosures work.
- Two to four weeks before closing
- Collect homeowners insurance quotes and select a policy. If your loan requires an escrow account, expect initial deposits for taxes and insurance to be shown on the Closing Disclosure.
Who to contact when you have questions:
- Lender: loan fees, mortgage insurance, credits, points, and program limits for seller concessions.
- Title/settlement company or closing attorney: title search, title insurance quotes, settlement fees, and recording steps.
- Real estate agent: local customs on who pays which title costs, typical HOA procedures, and negotiation strategy.
- County offices: recording fees, tax rates, and proration schedules via the Greenville County website.
Smart budgeting tips for Simpsonville buyers
- Use a conservative planning range. Budget 3% to 4% of the purchase price for closing costs, which sits within the common 2% to 5% range and gives you a buffer.
- Keep cash flow in mind. If upfront cash is tight, compare lender credits and seller credits with your lender and agent.
- Lock insurance early. Homeowners insurance can swing costs more than you expect. Shop coverage, not just price, and finalize in time for your lender’s deadline.
- Confirm HOA fees. If you are buying in an HOA, request written confirmation of any transfer or move‑in fees.
- Verify county specifics. For tax prorations and recording fees, rely on official county sources rather than estimates from national calculators.
Closing costs have many moving parts, but you do not need to navigate them alone. If you want a clear estimate based on the neighborhoods and loan programs you are considering, reach out. Amanda Holmes can coordinate realistic numbers with your lender and settlement team and help you negotiate credits that fit your goals.
FAQs
How much are closing costs for a $350,000 Simpsonville home?
- Buyers commonly budget about 2% to 5% of the purchase price, so roughly $7,000 to $17,500, depending on loan type, points, prepaids, title fees, and escrow deposits.
Who usually handles closings in Greenville County, South Carolina?
- Settlements are typically handled by licensed title/settlement companies or closing attorneys; your lender and agent will help you select and coordinate early.
Are closing costs different for FHA or VA loans in South Carolina?
- Program‑specific fees can apply, such as FHA’s upfront mortgage insurance premium or the VA funding fee; confirm current amounts and options with your lender or review HUD’s buyer resources.
Can I reduce out‑of‑pocket closing costs as a buyer?
- Yes, you can negotiate seller credits, request lender credits for a slightly higher rate, shop lenders and title services, and explore SC Housing assistance if you are eligible.
When will I receive the Closing Disclosure before my Simpsonville closing?
- Federal rules require your lender to deliver the Closing Disclosure at least 3 business days before closing; the CFPB explains the timing and how to review it.
Where can I verify Greenville County taxes and recording fees?
- Use official county resources; the Greenville County website lists current departments, schedules, and contact information for the assessor, treasurer, and Register of Deeds.
