Closing Costs for Home Real Estate Transactions

Certain standard costs are associated with closing the sale of a house. Sellers and buyers usually share these closing costs, as the sales contract specifies.

Many of the closing costs associated with buying residential real estate are associated with getting a mortgage loan. Since Home Pointe Mortgage Company has extensive experience with mortgages & closings, we often explain the details of closing costs.

Loan Estimates (LEs)

Soon after you submit your application, we will give you a "Loan Estimate" of your closing costs. The closing costs spelled out in the Loan Estimate are estimated based on Home Pointe Mortgage Company's experience with mortgage loans, but costs often change a little bit between delivery of the LE and closing. We go over Loan Estimates with buyers every day, so we are happy to answer any questions you have about closing costs.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Home Pointe Mortgage Company, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs

• Points — A fee paid to lower your interest rate (optional)
• Appraisal Costs
• Obtaining 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 or Quake Insurance

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