Closing Costs for Home Real Estate Transactions
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"Closing Costs" are the fees which pay for the various services involved when you sell or buy a house. Sellers & buyers usually negotiate these closing costs.
As you'll see below, many of the closing costs result from getting your mortgage. Since Funding Resources Mortgage Corp has extensive experience with closings & mortgages, we are closing cost experts.
Good Faith Estimate (GFE)
Buyers will 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 the loan officer's past experience. It's important to note that while our GFEs are very precise, we can't always predict your closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that sometimes change slightly at closing.
Below is a general list of costs for buying a home. We will always provide a specific list of your closing costs when we deliver your Good Faith Estimate.
Standard Closing Costs
- Points — lower your interest rate (optional)
- Appraisal Costs
- Credit Report
- Up-front Interest Payment
- Escrow Account
- Loan-related costs
- Recording Fees and Transfer Taxes
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Quake Insurance
Funding Resources Mortgage Corp can answer questions about these closing costs. Give us a call at 888-376-3762.