What are Closing Costs?

Certain standard costs are associated with closing the sale of a house. Sellers and buyers almost always split these costs, as specified in the sales contract.

Many of the costs associated with buying residential real estate are associated with getting the loan. At Home Mortgage Lenders, Inc., we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Buyers will get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. Please note that while our GFEs are very precise, we can't always estimate closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that can change slightly at closing.

Below is a fairly general list of closing costs. We will provide you with a specific list of your closing costs when we give you a Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Getting YourCredit Report
  • Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Home Mortgage Lenders, Inc. can answer questions about these closing costs. Call us at 8139881776.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question

English Spanish