The total amount of fees charged for closing a mortgage loan can be classified under which term?

The term "closing costs" encompasses the total amount of fees charged for closing a mortgage loan. This category includes a variety of charges that buyers typically encounter during the closing process, such as loan origination fees, appraisal fees, title insurance, and other related expenses.

Closing costs are essential for buyers to understand, as they can significantly affect the overall cost of securing a mortgage. Borrowers should expect to see a breakdown of these costs in the Loan Estimate and Closing Disclosure documents, allowing them to prepare financially for the final stages of their home purchase.

The other terms listed, while they may represent specific components of closing costs, do not encompass the entirety of fees associated with closing. For example, the origination fee is a specific charge for processing the loan application, and administrative or loan fees might refer to particular costs within the broader category of closing costs. Thus, "closing costs" is the most accurate and inclusive term to describe the total fees involved.