Wondering how much cash you’ll actually need to close on a home in Coweta County? You’re not alone. Closing costs can feel confusing, especially when you’re trying to plan a budget for Newnan, Senoia, or Sharpsburg. In this guide, you’ll learn what’s typically included, where costs vary locally, and how to estimate your own cash to close with confidence. Let’s dive in.
What closing costs cover
Closing costs are the fees and prepaids you pay to complete your purchase beyond the down payment. They usually include lender charges, title and settlement fees, county recording fees, inspections, and prepaid items like insurance, taxes, interest, and escrow deposits. As a planning rule of thumb, buyers often spend about 2% to 5% of the purchase price on closing costs. Your exact numbers come from your lender and closing attorney.
Under federal rules, your lender must send a Loan Estimate within three business days of your application and a Closing Disclosure at least three business days before closing. These documents outline your actual closing costs and cash to close so there are no surprises.
Typical buyer costs in Coweta County
Lender charges and loan-related fees
- Loan origination fee: often shown as a percentage of the loan amount, commonly 0.25% to 1%.
- Underwriting, processing, credit report, flood cert, appraisal: usually $300 to $1,200 in total. A typical single-family appraisal often runs $450 to $800. Complex or rural properties can cost more.
- Discount points: optional fees to buy down your interest rate. Cost equals the point percentage times the loan amount. Points may be covered by you, negotiated as a seller concession, or offset by a lender credit.
Local note: Appraisal pricing can rise for homes on acreage, properties with septic systems, manufactured homes, or unique features common in rural pockets of Coweta County.
Prepaids and initial escrow deposits
- Homeowners insurance: lenders usually collect the first-year premium at closing. Plan for roughly $600 to $2,000 or more depending on coverage and location.
- Prepaid interest: covers interest from your closing date until your first payment.
- Property tax proration: you’ll pay your share of taxes from your closing date through the end of the tax period, with the seller credited for their portion.
- Initial escrow reserves: lenders often require a cushion and initial deposits for future taxes and insurance. Federal rules limit the cushion to two months of payments.
Local note: Insurance premiums can vary by ZIP code and risk profile, so Newnan can price differently than rural Senoia or Sharpsburg.
Title, settlement, and title insurance
- Title search and settlement fee: covers research on the property’s title and the closing process, often several hundred dollars.
- Title insurance: includes a lender’s policy (typically required and buyer-paid) and an optional owner’s policy that protects your ownership. In many Georgia transactions, sellers often pay for the owner’s policy, but this is negotiable and should be confirmed with your agent and closing attorney.
Premiums are based on purchase price and insurance rate schedules. Combined lender and owner policy premiums can range from several hundred to a few thousand dollars on modestly priced homes.
Inspections and specialized reports
- General home inspection: commonly $300 to $600 for a typical single-family home.
- Termite or wood-destroying organism inspection: often $50 to $200.
- Septic inspection: typically $200 to $500 or more. Well water tests are often $50 to $200. Radon tests are often $100 to $250.
- Extra inspections: structural, HVAC, or engineering reviews vary by need.
Local note: Older or rural properties may require septic, well, or other specialty inspections. USDA, FHA, or VA loans can also trigger specific property condition checks.
Recording and local government fees
- Recording fees: the county charges to record the deed and mortgage. Expect modest fees that depend on the number of documents and pages.
- Transfer and documentary taxes: Georgia does not have a statewide real estate transfer tax in the way some states do. Localities may charge specific fees. Confirm Coweta County’s exact schedule during your transaction.
Budget a placeholder of $50 to $250 for recording-related charges until your settlement team provides exact amounts.
Other possible charges
- HOA items: transfer or resale certificate fees and prorated dues if you are buying in a community with an HOA.
- Small line items: flood certification, courier, or wire fees.
- Commissions: sellers typically pay for listing and buyer agent commissions, though commissions can impact overall negotiations.
Estimate your cash to close
Here’s a simple way to estimate your budget before you receive your official lender disclosures.
What to include
- Purchase price
- Your down payment
- Estimated closing costs at 2% to 5% of the purchase price
- Prepaids: insurance, interest, and tax proration
- Initial escrow deposits
- Earnest money already paid
- Any seller credits or lender credits
Step-by-step approach
- Set an example price. For instance, use $300,000 for a starter home in Newnan.
- Choose a down payment. For example, 5% for a conventional loan, 3.5% for FHA, or 0% for USDA or VA if eligible.
- Estimate closing costs: 2% to 5% of price. On $300,000, that is $6,000 to $15,000.
- Estimate prepaids and escrow: plan for $1,500 to $3,500 depending on timing, taxes, and insurance.
- Subtract earnest money already paid and add or subtract any negotiated credits.
You can plug the purchase price, down payment, estimated closing costs, earnest money, prepaids, and any seller credits into Kim’s mortgage calculator to see an estimated cash-to-close number.
Illustrative example
- Price: $300,000
- Down payment: 5% = $15,000
- Closing costs: 3% = $9,000
- Prepaids and escrow: $2,000
- Earnest money already paid: $3,000
Cash to close = $15,000 + $9,000 + $2,000 − $3,000 = $23,000.
This is an illustrative example only. Your exact cash to close will appear on your Loan Estimate and Closing Disclosure.
Coweta County specifics to know
Property taxes and proration
Georgia generally assesses real property at 40% of fair market value. To estimate annual taxes, multiply your expected sale price by 40% to get the assessed value, then apply Coweta County’s current millage rate. Prorate the result for the portion of the tax period you will own the home. Always verify current millage rates and billing timing with the Coweta County Tax Commissioner or Assessor.
Recording and county fees
Exact recording and per-page charges are set by the Coweta County Clerk of Superior Court. Your title company will include these fees in your settlement numbers. If you want a preview, ask your closing team for a sample quote or reach out to the county offices for the current fee schedule.
Local market factors that change costs
- Property type: Rural homes or properties on acreage may need added inspections for wells and septic, which increases out-of-pocket costs.
- Competition among providers: Newnan’s larger service base can sometimes mean more fee options for lenders and closing firms. Fees vary by provider.
- HOAs: Many newer subdivisions have HOA transfer fees or required documents that are paid at closing.
- Owner’s title insurance: Sellers often pay for the owner’s policy in many Georgia transactions, but this is negotiable. Confirm what is customary in your offer.
Assistance and loan programs
- Georgia Dream Homeownership Program: State-level down payment assistance for eligible buyers that can reduce your cash to close.
- USDA Rural Development: Zero-down financing for eligible rural areas in parts of Coweta County, subject to program rules and property eligibility.
- VA loans: Benefits for eligible veterans and service members, with program-specific rules on seller concessions and costs.
- Local programs: From time to time, county or city programs may offer buyer assistance. Check current availability.
Smart ways to lower your costs
- Compare lenders for lower origination fees or potential lender credits.
- Negotiate seller concessions during your offer.
- Apply for state or local assistance programs if you qualify.
- Pick a later closing date in the month to reduce prepaid interest.
- Confirm if the seller will cover the owner’s title policy to offset one fee.
What to expect on timing and paperwork
- Loan Estimate: Comes within three business days of your loan application and shows your projected costs and cash to close.
- Closing Disclosure: Arrives at least three business days before closing and lists your final, binding numbers.
- Review both carefully. Compare line by line and ask your lender or closing attorney to explain anything that is unclear.
Avoid common Coweta buyer pitfalls
- Forgetting HOA transfer or resale fees in your budget.
- Underestimating inspection needs for older or rural homes, such as septic, well, or radon.
- Relying only on the 2% to 5% rule without reviewing your Loan Estimate or a title quote.
- Overlooking loan program details, like seller concession limits for conventional, FHA, VA, or USDA loans.
Buying in Coweta County is exciting, and a clear closing-cost plan keeps stress low. If you want a personalized estimate based on your price point, loan type, and timeline, reach out. Kim brings local insight and practical guidance from offer to closing, so you can move forward with confidence.
Ready to get started or need a custom closing-cost estimate for a Newnan, Senoia, or Sharpsburg home? Schedule your Free Consultation with Kim Tullos.
FAQs
What are typical buyer closing costs in Coweta County, Georgia?
- Many buyers plan for 2% to 5% of the purchase price for closing costs, plus prepaids and escrow deposits, with exact figures on your Loan Estimate and Closing Disclosure.
What fees are included in Georgia buyer closing costs?
- You’ll usually see lender fees, appraisal, title and settlement charges, inspections, county recording fees, and prepaids like insurance, taxes, interest, and escrow deposits.
Who pays for owner’s title insurance in Coweta County?
- In many Georgia transactions, sellers often pay for the owner’s policy, but this is negotiable and should be confirmed in your offer and with your closing attorney.
How do I estimate property tax proration for my Coweta home?
- Multiply the sale price by 40% to find the assessed value, apply the current millage rate, estimate annual taxes, then prorate for the period you’ll own the home.
Can I reduce my cash to close as a Coweta buyer?
- Yes: shop lenders, negotiate seller concessions, explore assistance programs, adjust your closing date to limit prepaid interest, and confirm if the seller will cover the owner’s title policy.
