"Closing Costs" are the fees which pay for various services involved in the sale of a house. Buyers & sellers almost always negotiate the payment of these costs.
Many of the closing costs associated with buying residential real estate are associated with getting the mortgage loan. Since Statewide Funding is highly experienced with closings and mortgages, we often explain the details of closing costs.
Soon after you apply for a loan, we'll give you the "Loan Estimate" of your costs. The closing costs enumerated in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually vary a little bit between the Loan Estimate (LE) and closing. We handle buyers' questions about closing costs every day at Statewide Funding, so please be sure to contact us if you have questions.
Below you'll find a fairly general list of closing costs. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
Credit Report Up-front Interest Payment Escrow Fees Various TaxesLoan-related costs Points — lower your interest rate (optional) Appraisal Fee
Recording Fees & Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance if applicable
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