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.
The Average Loan Closes In 45 Days. According to Ellie Mae, a mortgage software company whose software helps to process more than 3.5 million mortgage applications annually, it takes 45 days, on average, to close a purchase money mortgage.