Closing Costs

"Closing Costs" are the fees which cover the various services involved when you sell or buy a house. Sellers and buyers usually negotiate to decide how to share these costs.

Many of the costs associated with buying residential real estate are associated with getting the mortgage loan. At Statewide Funding, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs in your "Loan Estimate".

Loan Estimate (LE)

Very shortly after you submit your application, we will give you a "Loan Estimate" of your closing costs. The closing costs enumerated in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change by small amounts between the LE and closing. 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'll provide 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 will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Appraisal Costs
  • Pulling Your Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
  • Costs related to "originating" your loan
  • Points — lower your mortgage interest rate (optional)
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance

At Statewide Funding, we answer questions about closing costs every day. Call us: (415) 456-7802.

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