Closing Costs

There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract.

As you negotiate the sales contract, you should not only work toward getting the sales price you want, but also work to limit the number of closing costs for which you will be responsible.  Consider having the seller pay some or all of the closing costs.

Good Faith Estimate

You will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. We will be glad to review the "Good Faith Estimate," answering and questions you may have. Below is a list of standared closing costs.  The actual fee amount will relate to your specific loan amount.

Standard Closing Costs

                Loan-Related Costs

  • Loan Origination Fee
  • Points (optional)
  • Underwriting Fee
  • Processing Fee
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

     Taxes

  • Property Taxes
  • Transfer Taxes and Recording Fees

                Insurance

  • Homeowners Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

 


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