What are Closing Costs?

Every home sale involves certain costs. Buyers and sellers customarily share these closing costs, as the sales contract specifies.

As you'll see below, many of the closing costs result from getting your mortgage. At Statewide Funding, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Soon after you apply for a loan, we will give you a "Loan Estimate" of your costs. The closing costs specified in the Loan Estimate are estimated based on Statewide Funding's experience with mortgage loans, but costs usually change a little bit between delivery of the Loan Estimate (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.

Below you'll find a fairly general list of closing costs. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Escrow Account
  • Taxes
  • Loan-related costs
  • Points — lower your interest rate (optional)
  • Appraisal Fee
  • Pulling Your Credit Report
  • Interest Payment
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Statewide Funding can help you understand closing costs. Give us a call at (415) 456-7802.

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Statewide Funding

Referral Based Real Estate Lending Since 1992

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