Closing Costs for Home Real Estate Transactions

There are certain standard costs associated with closing the sale of a home. Buyers and sellers customarily share these costs, as the real estate sales contract specifies.

As you'll see below, many of the closing costs result from getting your loan. At Home Pointe Mortgage Company, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. 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 by small amounts between delivery of the LE and closing. We explain LEs with buyers almost every day, so we will be happy to answer your questions about closing costs.

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

Standard Closing Costs

Loan-Related Costs

• Appraisal Fee
• Pulling Your Credit Report
• Up-front Interest Payment
• Escrow Fees
• Various Taxes
• Loan Origination Fee
• Points — These are costs you pay up-front to lower your mortgage interest rate (optional)

Property Taxes

• Insurance
• Transfer Taxes and Recording Fees

Homeowners Insurance

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

Home Pointe Mortgage Company can answer questions about these closing costs. Give us a call: 7702202800.