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 I negotiate the sales contract for you, I will not only work to get the sales price you want, I will also work to limit the number of closing costs for which you will be responsible.
I will walk you through the closing costs. As I answer any questions you may, I will be able to explain which costs are decreed by law to be yours and which are negotiable.
Good Faith Estimate
Buyers will receive a “Good Faith Estimate” of closing costs at the time the loan application is submitted to the lender. The estimate may not include all the closing costs as it is based on the loan officer’s past experience. I will be glad to review the “Good Faith Estimate” with you to answer questions and to point out missing costs and estimates I believe to be low.
Standard Closing Costs
Loan-Related Costs
Loan Origination Fee
Points (optional)
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
There are different types of insurance that affect the closing costs for a home loan.
