What are Closing Costs?

Every home sale involves costs. Sellers and buyers customarily share these closing costs, as specified in the real estate sales contract.

Many of the costs associated with buying a house are associated with getting a mortgage loan. Since Statewide Funding has extensive experience with mortgages and closings, we can help you understand your closing costs.

Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we cannot always predict closing costs to the penny. We answer questions about closing costs every day at Statewide Funding, so please feel free to ask if you have questions.

Below is a general list of costs for buying a home. We will provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Escrow Fees
  • Taxes
  • Costs related to "originating" your loan
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Interest Payment
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

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

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