Closing costs are the fees and expenses you pay to finalize your mortgage. They’re due at (surprise) closing. These are separate from your down payment, and they typically run between 2% to 5% of your home’s purchase price.

If you’re a first-time homebuyer, chances are you’ve heard all kinds of advice—some good, some… not so much. Mortgage myths are everywhere, and believing the wrong ones can slow you down or even keep you from buying a home. Let’s set the record straight and clear up some of the biggest misconceptions so you can move forward with confidence