Closing Costs for Residential Real Estate Transactions

"Closing Costs" are the fees that cover the various services involved in the sale of a home. Buyers and sellers often negotiate to decide how to split these costs.

As the list below indicates, many of the costs result from getting your loan. Since Home Pointe Mortgage Company has extensive experience with mortgages and closings, we can help you understand your closing costs.

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. Please note that while our LEs are very accurate, we cannot always predict closing costs to the penny. We explain LEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.

Below you'll find a generic list of closing costs. We will provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Points — lower your interest rate (optional)
• Appraisal Fee
• Pulling Your Credit Report
• Up-front Interest Payment
• Escrow Account
• Taxes
• Loan-related costs

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood / Quake Insurance if applicable

At Home Pointe Mortgage Company, we answer questions about closing costs every day. Call us at 7702202800.