What are Closing Costs?

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

As indicated below, many of the buyer's closing costs cover the costs of getting the loan. Since Statewide Funding has extensive experience with closings & mortgages, we can help you understand your closing costs.

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. Please note that while our LEs are very accurate, we cannot always predict your costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can change slightly at the closing table.

We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Statewide Funding, 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
  • Various Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Pulling Your Credit Report
  • Interest Payment
  • Escrow Fees
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Statewide Funding can answer questions about these closing costs. Call us at (415) 456-7802.

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