Don't Forget Closing Costs
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"Closing Costs" are the fees which cover various services involved when you sell or buy residential real estate. Sellers & buyers almost always negotiate the payment of these closing costs.
As indicated below, many of the costs result from getting your loan. Since Citywide Home Loans is highly experienced with mortgages & closings, we are closing cost experts.
Good Faith Estimate (Also know as the GFE)
Soon after you apply for a loan, we'll give you a "Good Faith Estimate" of your closing costs. The closing costs spelled out in the GFE are estimated based on our experience with mortgage loans, but costs usually change by small amounts between the GFE and closing. We handle buyers' questions about closing costs every day at Citywide Home Loans, so don't hesitate to ask if you have questions.
Below you'll find a fairly general list of costs for buying a home. We will always provide you with a specific list of your closing costs when we give you a Good Faith Estimate.
Standard Closing Costs
- Appraisal Fee
- Getting Your Credit Report
- Interest Payment
- Escrow Fees
- Loan-related costs
- Points — lower your mortgage interest rate (optional)
- Transfer Taxes & Recording Fees
- Flood / Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
Citywide Home Loans can help you understand closing costs. Call us at 4808226290.
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