Your Closing Costs

Every home sale involves certain costs. Sellers and buyers customarily split these costs, as the real estate sales contract specifies.

As you'll see below, many of the costs result from getting your mortgage. Since First Access Mortgage has extensive experience with mortgages & closings, we often explain the details of closing costs.

The Good Faith Estimate (Also know as the GFE)

Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. This closing cost estimate comes out of our past experience. Please note that while our GFEs are very precise, we cannot always estimate your costs to the penny. We field buyers' questions about these costs every day at First Access Mortgage, so please be sure to ask if you have questions.

Below you'll find a fairly general list of costs for buying a home. We will provide a specific list of your closing costs when we deliver your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Escrow Account
  • Taxes
  • Loan-related costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Fee
  • Obtaining Your Credit Report
  • Up-front Interest Payment
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At First Access Mortgage, we answer questions about closing costs every day. Give us a call at (985) 429-1770.

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