Are you budgeting for a home in Yarmouth Port and wondering how much cash you need beyond the down payment? You are not alone. Many Cape Cod buyers are surprised by the line items that appear right before closing. In this guide, you will learn what closing costs cover, the typical totals to plan for in Barnstable County, how your loan type and timing change the number, and practical ways to keep costs in check. Let’s dive in.
Typical total in Yarmouth Port
For most buyers, closing costs run about 2% to 5% of the purchase price. On Cape Cod, where prices often skew higher, that range can translate into significant dollar amounts. The final total depends on your loan program, the property type, and the exact third‑party and recording fees for Barnstable County and the Town of Yarmouth. Because municipal schedules change, confirm current figures with a local title company, real estate attorney, or the Barnstable County Registry of Deeds.
What closing costs include
Closing costs are the fees and prepaids needed to complete your purchase. They include lender charges, third‑party services like appraisal and title work, prepaids and escrow deposits for taxes and insurance, attorney or settlement fees, and local recording and registry charges. If you are financing, expect lender‑driven items and escrows to make up a meaningful share of the total. Cash buyers often pay less overall but still cover title, attorney, and recording items.
Line‑by‑line buyer costs
Lender fees and loan charges
These are the costs your lender or mortgage broker collects to originate and process your loan. They can include an origination fee or points, underwriting and processing, credit report, and rate lock fees. Totals vary from a few hundred to several thousand dollars, and discount points cost 1% of the loan amount per point. Many lender fees can be shopped or negotiated, so compare Loan Estimates from at least two or three lenders.
Appraisal
Most mortgages require an independent appraisal. Typical appraisals cost about $300 to $800 for single‑family homes, with higher fees possible for unique or waterfront Cape Cod properties. The lender usually orders the appraisal, and you pay the fee.
Inspections: home, septic, well, pest, and more
Plan for a general home inspection, which often ranges from $300 to $600. On Cape Cod, septic and well inspections are common, and specialized tests or certifications may be needed. Massachusetts Title V septic rules can come into play at transfer, so confirm whether a Title V inspection or repairs are required and who will pay for them in your agreement.
Title search, title insurance, and settlement
A title company or attorney examines the property’s title history, clears issues, and issues title insurance. A lender’s title policy is required when you finance and is a buyer expense. An owner’s title policy is optional and who pays can vary by local custom and negotiation. Combined title, settlement, and policy charges can range from a few hundred to several thousand dollars, often scaling with price.
Recording fees and any transfer taxes
These are the charges to record your deed and mortgage at the Barnstable County Registry of Deeds. Some areas also have transfer or documentary taxes. Amounts and who pays vary by municipality and custom. Verify the current Barnstable County recording fee schedule and any Town of Yarmouth charges early in your escrow.
Prepaids and escrow deposits
You will prepay daily interest from your closing date to month‑end and usually your first year of homeowner’s insurance. Most lenders collect escrow deposits for taxes and insurance, often equal to a couple months of payments. If flood insurance is required, include that in your budget. The exact amounts depend on timing, the local tax calendar, and your insurance premiums.
Attorney fees
In Massachusetts, many buyers engage a real estate attorney for contract review and closing. Typical fees often range from about $500 to $1,500 or more based on complexity. Ask early whether your closing will be handled by an attorney, a title company, or both, and request a written quote.
HOA or condominium fees
If you are buying a condo or a property with an association, plan for document or estoppel fees and prorated dues. Document fees often fall in the $100 to $400 range, while dues are prorated to your closing date. Confirm who pays which fees in your purchase agreement.
Miscellaneous charges
You may see a property survey, wire fees, and courier fees. Surveys can range from about $300 to $1,500, with wire and courier fees usually more modest. These items are often buyer costs unless negotiated otherwise.
Local customs to verify
- Who typically pays the owner’s title policy in Barnstable County
- Whether Title V septic certification is required and who pays for any repairs
- Whether a flood elevation certificate or coastal endorsements are common for your property
- Current Barnstable County recording fees and any Town of Yarmouth charges
How loan type and timing change your number
Your Loan Estimate and Closing Disclosure
Your lender must provide a Loan Estimate within three business days of your completed mortgage application. You will receive a final Closing Disclosure at least three business days before closing. Review both carefully. If fees change in a way that affects your annual percentage rate or adds undisclosed charges, new waiting periods can apply.
Conventional, FHA, VA, USDA, and jumbo
- Conventional: If you put less down, private mortgage insurance may apply and affect your monthly payment and sometimes your upfront costs. PMI can often be removed once you reach a set equity level.
- FHA: You will pay an upfront mortgage insurance premium and monthly mortgage insurance. The upfront premium can often be financed into the loan.
- VA: The VA funding fee is a one‑time charge that depends on service status and down payment and can often be financed. There is no PMI, but VA appraisals and program requirements apply.
- USDA: Purchases in eligible areas include a guarantee fee upfront and an annual fee. Eligibility depends on the property location and program rules.
- Jumbo or second‑home: Lenders may require higher reserves, larger escrow cushions, and tighter underwriting. This can increase cash needed at closing.
Discount points and buy‑downs
Paying discount points can lower your interest rate. One point costs 1% of your loan amount. This increases your closing costs today in exchange for long‑term monthly savings. Ask your lender for a break‑even analysis so you can compare options.
Calendar timing
Your closing date affects prepaid interest, which runs from your closing date to the end of the month. Property taxes and HOA dues are prorated based on the closing date and the local tax schedule. On Cape Cod, verify tax billing cycles so you are prepared for escrows and prorations.
Local steps to control costs
Before and during escrow
- Compare Loan Estimates from two or three lenders line by line.
- Order inspections early, including home, septic or Title V, well, and pest if needed.
- Ask for a preliminary title commitment to spot issues early.
- Confirm whether an attorney will handle your closing and get a fee quote.
- Have your title company verify current Barnstable County recording fees and any Town of Yarmouth charges.
Negotiation levers
- Request a seller credit toward closing costs, subject to your loan program limits.
- Shop lenders to reduce origination and points.
- Shop settlement and title providers for their service fees where allowed.
- Ask about rolling certain fees into your loan if permitted and if you qualify.
Smart questions to ask
Copy this list and bring it to your lender, title company, and attorney.
- “Can you provide a Loan Estimate showing all lender fees, third‑party fees, and prepaids?”
- “Which fees are required by the lender and which are third‑party or optional?”
- “How much in prepaid interest, first‑year insurance premium, and escrow deposit will be due at closing?”
- “What is the estimated cost of the appraisal, credit report, and flood determination?”
- “Is a Title V septic inspection required for this property and who normally pays for repairs in Yarmouth Port?”
- “Who pays for the owner’s title policy in this area?”
- “Are there any Barnstable County or Town of Yarmouth recording fees, excises, or transfer taxes I need to plan for?”
- “What seller concessions are allowed under this loan program, and what are the maximums?”
- “If I pay points to lower my rate, how long until I break even?”
- “When will I receive the Closing Disclosure, and will there be any changes after that?”
- “What wire instructions will be used for funds at closing, and how can I verify them to avoid fraud?”
Examples: estimating your total
Use these simple examples to plan a budget. The figures use 2%, 3.5%, and 5% multipliers. Your exact numbers will come from your Loan Estimate and your title company.
Entry example at 750,000 purchase price:
- 2%: 15,000
- 3.5%: 26,250
- 5%: 37,500
Typical Yarmouth Port single‑family at 1,200,000:
- 2%: 24,000
- 3.5%: 42,000
- 5%: 60,000
Higher‑end or waterfront at 2,500,000:
- 2%: 50,000
- 3.5%: 87,500
- 5%: 125,000
These are illustrations only. Your totals depend on your loan type, points, escrows, inspections, and current Barnstable County and Town of Yarmouth fees.
Final thoughts and next steps
If you plan for 2% to 5% in closing costs and verify the local line items early, you can avoid surprises and close with confidence. Focus on comparing Loan Estimates, scheduling inspections promptly, and confirming current recording and registry charges for Barnstable County. If you are weighing rate options, ask for clear break‑even math on any points.
If you want local guidance tailored to Yarmouth Port, connect with a team that knows the Cape and can coordinate your inspectors, lender, title, and attorney. When you are ready, reach out to Wilkinson & Associates Real Estate to start a clear, well‑planned purchase.
FAQs
What are typical closing costs for Yarmouth Port buyers?
- Most buyers should plan on about 2% to 5% of the purchase price, with higher Cape Cod prices translating to larger dollar amounts.
Who pays for owner’s title insurance in Barnstable County closings?
- The lender’s policy is a buyer expense when you finance; payment of the optional owner’s policy varies by local custom and negotiation, so confirm with your title company.
Are Title V septic inspections required in Yarmouth Port, MA?
- Title V septic rules can apply at transfer; verify whether an inspection or repairs are required for your property and agree in writing who pays.
How do escrow deposits for taxes and insurance work on Cape Cod?
- Lenders often collect a few months of taxes and insurance upfront to fund your escrow account; the exact amounts depend on timing, local tax cycles, and your insurance premium.
Do second‑home or waterfront purchases have higher closing costs?
- They can, due to higher prices, potential appraisal complexity, larger escrow cushions, and specialized items like flood insurance or elevation certificates when required.
