Every home sale incurs fixed costs. Buyers and sellers usually share these closing costs, as the real estate sales contract specifies.
As you'll see below, many of the costs result from getting your mortgage loan. Since Statewide Funding is highly experienced with mortgages & closings, we can help you understand your closing costs.
Soon after you apply for a loan, we will provide you with the "Good Faith Estimate" of your closing costs. The cost estimate is based on our past experience. Please note that while our GFEs are very accurate, we cannot always predict your costs to the penny. We review Good Faith Estimates with buyers almost every day, so we will be happy to answer your questions about closing costs.
Below you'll find a generic list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we give you a Good Faith Estimate.
Standard Closing Costs
Interest Payment Escrow Fees Various TaxesLoan-related costs Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Credit Report
Recording Fees & Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance
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