Buying in Sharpsburg should feel exciting, not confusing. If you have ever asked, “How much cash do I really need at closing?” you are not alone. Understanding buyer closing costs upfront can help you plan your budget, make stronger offers, and avoid last-minute surprises. Below, you will learn what closing costs include in Georgia, how much to budget for Sharpsburg price points, and smart ways to lower your cash to close. Let’s dive in.
What buyer closing costs cover in Georgia
Closing costs include the fees and prepaids needed to finalize your mortgage and transfer the property. While every transaction is unique, the Consumer Financial Protection Bureau explains that buyers typically pay several categories of costs and can review exact numbers on the Loan Estimate and Closing Disclosure. You can learn more in the CFPB’s helpful overview of the closing process and documents in the CFPB closing costs guide.
Lender and loan fees
These are paid to your mortgage lender and service providers tied to the loan.
- Loan origination fee: often 0.5% to 1.0% of the loan amount.
- Underwriting and processing: usually $400 to $1,200 total.
- Appraisal: typically $375 to $700.
- Credit report: about $20 to $50.
- Small third-party charges: flood certification, tax service, courier, and similar items can total $10 to $200 each.
- Mortgage insurance items if applicable: some loans include an upfront premium or the first month of mortgage insurance in escrow.
Title, attorney, recording, and escrow
Georgia closings commonly involve a settlement attorney and title company.
- Title search and exam: often $150 to $400.
- Lender’s title insurance: usually in the lower end of 0.2% to 0.6% of the loan amount.
- Owner’s title insurance: one-time premium often 0.4% to 0.8% of the purchase price. Who pays varies by local custom in Georgia, so confirm in your contract for Coweta County.
- Settlement or attorney fee: about $200 to $600.
- Recording fees: county-level charges are typically modest and depend on the documents recorded.
For an overview of title practices statewide, the Georgia Land Title Association is a helpful resource. For local recording details, you can also check the Coweta County official site.
Prepaids and escrows
These are not fees for services. They are upfront deposits so your lender can pay future bills on time.
- Homeowners insurance: often the first year is paid at closing and can range from about $700 to $2,000, depending on the home and coverage.
- Prepaid interest: daily interest from your closing date to your first payment due date.
- Property tax reserves: lenders often collect 2 to 6 months of taxes and insurance at closing. Property taxes are prorated and depend on timing. Your exact numbers are based on the current tax bill for the home.
Government or special items
- County recording charges, utility transfer fees, and any local assessments vary by property.
- Flood-related certifications if required.
How much to budget in Sharpsburg
A useful rule of thumb is that buyer closing costs, not including the down payment, often total about 2% to 5% of the purchase price. In Georgia, a practical working range for many buyers is about 2.5% to 4%, depending on your loan type, title selections, and prepaids.
Sharpsburg sits within Coweta County, where recent sales activity has centered in the low to mid $300,000s. To keep things simple, the examples below use three common price points and assume a conventional 30-year loan. These numbers are illustrative. Your lender and the closing attorney will provide exact figures on your Loan Estimate and Closing Disclosure.
A quick estimator you can use
Cash to close equals your down payment plus buyer-paid closing costs and prepaids, plus any points you choose to pay, minus any seller or lender credits.
- Cash to close = down payment + closing costs + prepaids and escrows + points − credits
Scenario A: entry-level Sharpsburg home
- Purchase price: $250,000
- Down payment: 5%, which is $12,500
- Estimated buyer closing costs: 3.5%, which is $8,750
- Estimated cash to close: $21,250
- Notes: If a 1% origination point is included, that increases lender fees within the total. A seller or lender credit can reduce your cash requirement.
Scenario B: Coweta median price example
- Purchase price: $325,000
- Down payment: 5%, which is $16,250
- Estimated buyer closing costs: 3.0%, which is $9,750
- Estimated cash to close: $26,000
- Alternate: With 20% down, your down payment would be $65,000. Closing costs remain similar at about $9,750, so estimated cash to close is about $74,750.
Scenario C: move-up suburban home
- Purchase price: $450,000
- Down payment: 5%, which is $22,500
- Estimated buyer closing costs: 3.5%, which is $15,750
- Estimated cash to close: $38,250
- Alternate: With 20% down, estimated cash to close is $105,750, which is the $90,000 down payment plus about $15,750 in closing costs.
Remember, the biggest variables are your down payment, loan program, whether you pay points, and whether the contract includes any seller credits or an owner’s title policy paid by the seller.
What changes your cash to close
Rate buydowns, or paying points
A rate buydown lets you pay a fee at closing to lower your interest rate. One point equals 1% of the loan amount. The rate reduction per point varies by lender. A permanent buydown raises your upfront cost but can lower your monthly payment. Many buyers compare the breakeven period, which is how long it takes for the monthly savings to outweigh the upfront cost. Some lenders also offer temporary options, such as a 2-1 buydown, that reduce the rate for the first one to two years.
Lender credits in exchange for a higher rate
You can ask for lender credits that offset some or all closing costs. This lowers your cash to close but typically comes with a higher interest rate, which increases your monthly payment for the life of the loan or the period you keep the loan.
Seller concessions or credits
You can negotiate for the seller to pay some closing costs. Loan programs cap how much the seller can contribute, and the cap often depends on your down payment and whether you will live in the home as your primary residence. Seller credits reduce your cash to close dollar for dollar.
Grants and assistance programs
Georgia and some local agencies offer down payment or closing cost help that may come with income limits and primary residence requirements. You can explore current options through the Georgia Department of Community Affairs.
Georgia and Coweta specifics to know
- Title and attorney practice: Georgia closings typically use a settlement attorney and a title company. Who pays for the owner’s title policy is based on local custom and your purchase agreement. Confirm this early during your offer negotiations.
- Property taxes and prorations: Taxes are set and billed at the county level. Your lender will often collect several months of taxes and insurance to fund your escrow account. For current millage rates or recent bills on a specific home, check with the title company or the Coweta County tax assessor.
- Recording and local fees: Coweta County charges modest recording fees based on the documents recorded. Your closing attorney will itemize the exact amounts.
If you want to learn about title insurance in general and how premiums are structured in Georgia, the Georgia Land Title Association provides statewide information.
A simple before-closing checklist
Use this to stay organized as you work toward a Sharpsburg closing.
- Get a Loan Estimate from at least one lender and compare rate, points, and fees. The CFPB closing costs guide explains how to read the Loan Estimate and Closing Disclosure.
- Request a title fee estimate and confirm who pays the owner’s title policy on your Coweta County contract.
- Calculate cash to close. Add your down payment, estimated closing costs, and prepaids or escrows, then subtract any credits.
- Ask your lender to model a rate buydown versus a lender credit so you can compare upfront cost and monthly payment.
- Confirm current property tax information with the title company or the Coweta County tax assessor.
- Obtain a homeowners insurance quote and arrange your binder before closing.
- Track your earnest money and make sure it is credited on the final settlement statement.
- Bring valid ID and follow your closing attorney’s instructions for final funds via cashier’s check or wire.
Planning ahead is the fastest way to a smooth closing. If you want local guidance on lenders, closing attorneys, and what to expect at each price point in Sharpsburg, I am here to help. Reach out to me at Tina Bantin and let’s build a clear plan for your purchase.
FAQs
What are buyer closing costs in Georgia, and how are they different from the down payment?
- Closing costs are the fees and prepaids required to finalize your loan and transfer the property, while the down payment is the portion of the purchase price you pay upfront. Many Georgia buyers budget about 2.5% to 4% of the price for closing costs, separate from the down payment.
Are closing costs the same as earnest money in a Sharpsburg purchase?
- No. Earnest money is a good faith deposit made after your offer is accepted. It is credited toward your down payment or closing costs at closing, but it is not an extra fee.
Who typically pays for the owner’s title insurance policy in Coweta County?
- Local custom in Georgia varies. In some counties the seller pays for the owner’s policy, and in others the buyer does. Confirm the expectation with your agent, your closing attorney, and your purchase agreement.
Can seller credits reduce my cash to close on a Sharpsburg home?
- Yes. Seller concessions can pay part of your closing costs up to program limits. The exact cap depends on your loan type, down payment, and whether the home will be your primary residence.
Can I finance closing costs into my mortgage in Georgia?
- Some options exist. You may trade rate for lender credits that offset costs, or in certain cases roll specific fees into the loan amount. Your lender will explain what is allowed for your loan program.
How do I get a precise estimate of closing costs for a specific Sharpsburg property?
- Request a Loan Estimate from your lender after preapproval and ask the closing attorney or title company for a fee quote. These two documents are the most reliable sources before you receive your final Closing Disclosure.
