Closing Costs for Residential Real Estate Transactions

All residential real estate sales involves certain fixed costs. Buyers and sellers almost always share these costs, as specified in the sales contract.

As you'll see below, many of the buyer's closing costs cover the costs of originating the mortgage loan. At Custom Lending Group, we are highly experienced in mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".

The Good Faith Estimate (Also know as the GFE)

Soon after you apply for a loan, we'll provide you with the "Good Faith Estimate" of your costs. We base this cost estimate on our extensive past experience. Please note that while our GFEs are very precise, we can't always predict closing costs to the penny. We explain GFEs with buyers almost every day, so we are happy to answer the you have about closing costs.

Below you'll find a fairly generic list of closing costs. We will provide a specific list of your closing costs when we deliver your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Interest Payment
  • Escrow Fees
  • Taxes
  • Loan-related costs
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance
  • Private Mortgage Insurance (PMI)

At Custom Lending Group, we answer questions about closing costs every day. Give us a call: (707) 252-2700.

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