Closing Costs

There are certain standard costs associated with buying a house. These fees are split between the buyer and the seller, as spelled out in the sales contract.

As you and your Realtor negotiate the sales contract, you will not only work to get the sales price you want, but to limit the amount of closing costs for which you will be responsible. In some cases the seller may pay some of your closing and pre-paid cost. Depending on the property type you are buying, primary, vacation, investment, there is a limit to the percent of sales price the seller is allowed to pay.

I will walk you through the closing costs, answering any questions you may have explaining each fee.

Good Faith Estimate

Buyers will receive a "Good Faith Estimate" of closing/prepaid costs at pre-approval for a specific loan amount and/or at the time the loan application is signed. The estimate is based on the loan amount, type of loan, your credit score, down payment and property type. I will be glad to review the "Good Faith Estimate," answering questions.

 

Standard Closing Costs Loan-Related Costs Loan Origination Fee Discount Points Appraisal Fee Credit Report Fee Underwriting/Processing Fee  Recording of the Mtg Fee  Escrow Account Set Up Fees Flood Cert Mers Fee Taxes Property Taxes Intangible Taxes Deed Stamp Taxes  Insurance Homeowners Insurance Flood Insurance Private Mortgage Insurance (PMI) if required Title Insurance fees