By Zach WichterBankrate.com/TNSClosing costs are the thousands of dollars in fees associated with a mortgage, typically amounting to 2% to 5% of the loan principal. There are various closing cost components, and they vary from state to state. SoClosing costs are the thousands of dollars in fees associated with a mortgage, typically amounting to 2% to 5% of the loan principal.Read more on NewsOK.com