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.
According to Bankrateâs 2017 Closing Costs Survey, the origination and third-party fees on a $200,000 mortgage cost an average of $2,084. No-closing-cost mortgages are attractive to borrowers who donât have the cash to pay fees upfront. Waiving the closing costs may be the ticket to getting a mortgage for a new home or a refinance. If you donât plan to stay in your home for more than five years, a no-closing-cost mortgage also makes sense.