Closing Costs in Ohio: What Buyers Should Expect

Are you trying to budget for a home purchase in Columbus but unsure what closing costs really add up to? You are not alone. Many buyers focus on the down payment and feel surprised when the final cash to close includes a long list of one-time fees and prepaids. This guide explains what you can expect in Franklin County, who typically pays what, how to estimate your total, and simple ways to plan ahead. Let’s dive in.

What closing costs cover

Closing costs are the one-time fees and prepaid items you pay when you buy a home. They are separate from your down payment. These costs include lender fees, third-party services like the appraisal and inspections, title and recording charges, and prepaid items for taxes and insurance.

As a budgeting rule of thumb, buyers in Ohio often plan for 2% to 5% of the purchase price in closing costs. Your actual total depends on your loan type, rate choices, who pays which title policy, and local county fees.

Who pays what in Columbus

In Central Ohio, many deals follow these common practices:

• Sellers usually pay real estate commission from their sale proceeds. The total commission is negotiated and commonly falls around 5% to 6% of the sale price, shared between listing and buyer brokers.
• In many Ohio transactions, the seller pays for the owner’s title insurance policy and the buyer pays for the lender’s title policy. This is a custom, not a rule, and can be negotiated in your contract.
• Recording and conveyance fees can vary by county and municipality. For Franklin County, verify current charges with the county offices or your title company.

Always confirm who is paying each line item in your purchase contract and with your title company. Customs can vary by neighborhood and by deal.

Typical buyer fees in Franklin County

Below are common buyer-side costs you may see on your Loan Estimate and Closing Disclosure. Not every item applies to every buyer.

Loan-related fees

• Origination or application fee. Lender charge for processing your mortgage. This can be a flat fee or a percentage of the loan.
• Discount points. Optional. Paying points can lower your interest rate. One point equals 1% of the loan amount.
• Underwriting and processing fees. Lender costs to review and approve your loan.
• Credit report fee. Small fee for pulling your credit.
• Mortgage insurance. Required for some loans based on down payment and program, such as conventional PMI or FHA and VA program fees.

Third-party inspections and reviews

• Home inspection. Strongly recommended. Cost varies by property type and size.
• Specialty inspections. Radon, pest, sewer scope, chimney, or HVAC, if needed.
• Survey. Sometimes required depending on property and lender.

Appraisal and valuation

• Appraisal. Ordered by your lender to confirm market value. Cost varies by loan type and property complexity.

Title, escrow, and recording

• Lender’s title insurance policy. Protects the lender’s interest. One-time premium based on state rate schedules.
• Title search, title exam, and settlement fee. Paid to the title company for research and closing services.
• Recording fees. Paid to Franklin County to record your deed and mortgage.
• Owner’s title insurance. Often paid by the seller in Ohio, but confirm in your purchase agreement.

Prepaids and escrows at closing

• Property tax prorations. You may reimburse the seller for taxes already paid or receive a credit if taxes are due. Your lender may also collect an escrow deposit for future taxes and insurance.
• Homeowners insurance. Often the first year’s premium is paid at closing.
• Prepaid interest. Covers interest from your closing date until your first mortgage payment.

Other small items

• Flood certification, notary, courier or wire fees, and document prep fees.

How much to budget

Use the 2% to 5% rule as a starting estimate for buyer closing costs in Columbus. Here are example ranges:

• $250,000 purchase: about $5,000 to $12,500 in closing costs
• $350,000 purchase: about $7,000 to $17,500 in closing costs
• $450,000 purchase: about $9,000 to $22,500 in closing costs

Your number can be higher or lower depending on your loan program, mortgage insurance, discount points, prepaid escrows, and negotiated credits.

What changes your total

• Loan type and down payment. A conventional loan with 20% down and no mortgage insurance often has fewer recurring costs than an FHA loan that includes mortgage insurance.
• Discount points. Buying down the rate increases upfront costs.
• Title insurance split. If you agree to pay the owner’s title policy, your closing costs rise. If the seller pays, your costs drop.
• Seller concessions. Credits for repairs or concessions can offset your out-of-pocket costs.
• County and municipal fees. Recording or conveyance charges can vary. Confirm with the title company for Franklin County.

Estimate your costs step by step

1. Start with your purchase price and planned down payment.
2. Ask your lender for a Loan Estimate that details origination, points, and underwriting fees.
3. Request a title fee quote. Ask a title company for lender’s title policy, settlement fee, and recording estimates.
4. Add third-party fees. Include the appraisal, home inspection, specialty inspections, and a survey if required.
5. Add prepaids and escrows. Include the first year of homeowners insurance, estimated property tax prorations, and any initial escrow deposits for taxes and insurance.
6. Add small administrative items. Include recording, notary, courier, and wire fees.
7. Sum your items. Compare the total as a dollar amount and as a percentage of your price to keep perspective.

Your lender must provide a Loan Estimate within three business days of application and a Closing Disclosure at least three business days before closing. Use these documents to confirm your final cash to close.

Timeline from offer to closing

• After acceptance. Apply for your loan so the lender can issue your Loan Estimate within three business days.
• Inspection window. Schedule your home inspection quickly. Many contracts allow 7 to 10 days.
• Appraisal. Ordered by the lender. Often returns in 1 to 3 weeks.
• Title and settlement. Ask for a fee quote and confirm who pays owner’s and lender’s title policies.
• Closing Disclosure. You should receive it at least three business days before closing. Review every fee and your final cash to close.
• Final walk-through and signing. Verify condition, then sign documents and fund.

Tips to lower or manage costs

• Compare lender fees and rate options. Ask for scenarios with and without points so you can weigh upfront cost versus monthly savings.
• Ask what you can shop for. Title services and inspections are often shoppable. Compare quotes and timelines.
• Negotiate strategically. Consider asking the seller for concessions or specific credits after inspections if appropriate.
• Confirm title policy custom. In many Ohio deals, sellers pay the owner’s policy. Verify and negotiate this early.
• Mind your closing date. Closing near month end can reduce prepaid interest.
• Protect your funds. Always verify wire instructions with your title company by phone using a known number.

Local notes for Franklin County

• Recording and conveyance charges. These are set at the county level. Your title company will provide exact current amounts for Franklin County.
• Property taxes and prorations. The Franklin County Auditor’s schedules help title companies calculate fair prorations at closing. Your final numbers appear on the Closing Disclosure.
• Commission norms. Total commission is negotiated, and many local transactions land around 5% to 6% of the sale price, paid from seller proceeds.

Buyer budgeting checklist

• Get a full pre-approval and ask for a sample Loan Estimate based on your price range.
• Save for closing costs using the 2% to 5% rule, separate from your down payment.
• Price out inspections you expect to need in your target neighborhoods.
• Request a title quote early to understand lender’s title policy, settlement fees, and recording charges.
• Ask your lender which fees are locked, which are estimates, and whether an escrow account will be required for taxes and insurance.
• Review your Closing Disclosure at least three business days before closing. Ask questions about any line item you do not recognize.

How Columbus Prime Realty helps

You deserve a clear path from offer to keys. Our team guides you through each cost line, helps you compare lender and title quotes, and keeps your timeline on track so there are no last-minute surprises. If you want a local advocate who treats your purchase like our own, we are ready to help.

Ready to plan your budget and next steps in Central Ohio? Connect with Columbus Prime Realty for contract-to-close guidance tailored to your goals.

FAQs

What are typical buyer closing costs in Columbus?

• Buyers often budget 2% to 5% of the purchase price for closing costs, separate from the down payment. Your total depends on loan type, title policy split, and prepaids.

Who usually pays for owner’s title insurance in Ohio?

• In many Ohio transactions the seller pays the owner’s title insurance policy and the buyer pays the lender’s policy. This is customary but negotiable in your contract.

When will I know my exact cash to close?

• Your lender must send a Closing Disclosure at least three business days before closing. It shows final loan terms, fees, and your exact cash to close.

Can seller credits reduce my out-of-pocket costs?

• Yes. Negotiated seller concessions or repair credits can offset your closing costs. The details are agreed in the purchase contract and subject to loan program limits.

What prepaid items should I expect at closing?

• Common prepaids include the first year of homeowners insurance, property tax prorations, initial escrow deposits for taxes and insurance, and prepaid interest from closing to month end.

Do recording and conveyance fees vary in Franklin County?

• Yes. County and municipal fees can change and vary by jurisdiction. Your title company will confirm current Franklin County charges in your closing figures.