Closing Costs for Home Real Estate Transactions

Certain standard costs are associated with closing the sale of a home. Buyers and sellers almost always split these costs, as specified in the sales contract.

As indicated below, many of the closing costs result from getting your loan. Since 1st Credential Mortgage Inc has extensive experience with mortgages and closings, we are closing cost experts.

Loan Estimate (LE)

Very shortly after you apply for a loan, we will give you the "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes vary a little bit at closing.

Below you'll find a general list of costs for buying a home. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Appraisal Fee
• Credit Report
• Interest Payment
• Escrow Account
• Taxes
• Costs related to "originating" your loan
• Points — These are costs you pay up-front to lower your interest rate (optional)

Property Taxes

• Insurance
• Recording Fees and Transfer Taxes

Homeowners Insurance

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

1st Credential Mortgage Inc can help you understand closing costs. Call us at 2817780805.