Certain standard costs are associated with closing the sale of a house. Buyers and sellers usually split these closing 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 is highly experienced with closings and mortgages, we often explain the details of closing costs.
Buyers will get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our GFEs are very accurate, we can't always predict your closing costs to the penny. We handle buyers' questions about these costs every day at First Access Mortgage, so don't hesitate to contact us if we can help answer your questions.
Below you'll find a generic list of costs for buying a home. We will always provide a specific list of your closing costs when we provide your Good Faith Estimate.
Standard Closing Costs
TaxesLoan-related costs Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account
InsuranceRecording Fees & Transfer Taxes
Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance
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