Universal Solvent Definition. A universal solvent is a substance that dissolves most chemicals. Water is called the universal solvent because it dissolves more substances than any other solvent. However, no solvent, including water, dissolves every chemical. Typically, like dissolves like..
Average closing costs on a mortgage loan is between 2%-5%. On a home with a purchase price of $200,000 the typical costs will be between $3,000-$5,000. These costs will vary depending on the lender you use. Closing costs are made up of several different fees charged by your lender. These fees include credit report, loan origination fee, survey, etc.
Based on this information, the closing costs would be approximately $6,600. The total loan would be $186,600. As a general rule, closing costs should be 2%-5% of the purchase price. When buying a home, it is always a good idea to try and negotiate with the seller and request they pick up some of these closing costs. It is actually a common process that helps keep the loan amount down.