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.
It also depends on the size of the loan you get. In my experience, it's more accurate to multiply your loan amount by 3 percent. This will give you a rough idea how much your total closing costs will be. On a $250,000 mortgage loan, this would come out to around $7,500 (250,000 x .03 = 7,500). If you live in a high-cost area like New York or California, you might have to multiply by 5 - 6 percent to get a ballpark figure.