Don't Forget Closing Costs

Every home sale involves costs. Buyers and sellers almost always share these closing costs, as the real estate sales contract specifies.

As indicated below, many of the buyer's closing costs are related to the costs of originating the loan. Since Statewide Funding has extensive experience with closings and mortgages, we often explain the details of closing costs.

The Good Faith Estimate (GFE)

Very soon after you apply for a loan, we will provide you with the "Good Faith Estimate" of your closing costs. The closing costs enumerated in the GFE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between the Good Faith Estimate (GFE) and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that can change slightly at closing.

We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you complete 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
  • Escrow Account
  • Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Getting Your Credit Report
  • Interest Payment
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

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

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