Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which pay for the various services involved when you sell or buy residential real estate. Sellers and buyers usually negotiate to determine who will pay different portions of these costs.

Many of the costs associated with buying a home are associated with getting the mortgage. At Homewithloan.com, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Good Faith Estimate".

The Good Faith Estimate (GFE)

Buyers will get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs specified in the GFE are estimated based on Homewithloan.com's experience with mortgage loans, but costs often change by small amounts between delivery of the Good Faith Estimate (GFE) and closing. We go over Good Faith Estimates with buyers every day, so we are happy to answer your questions about closing costs.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Homewithloan.com, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Escrow Account
  • Various Taxes
  • Loan Origination Fee
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Getting Your Credit Report
  • Up-front Interest Payment
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance

At Homewithloan.com, we answer questions about closing costs every day. Call us: 972.798.2110.

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