What are Closing Costs?

Every home sale involves certain fixed costs. Sellers and buyers almost always split these closing costs, as specified in the sales contract.

As indicated below, many of the closing costs result from getting your mortgage loan. At Custom Lending Group, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Very shortly after you apply for a loan, we'll give you the "Loan Estimate" of your costs. This closing cost estimate comes out of our past experience. Please note that while our LEs are very precise, we cannot always estimate your closing costs to the penny. We go over Loan Estimates with buyers every day, so we are happy to answer your questions about closing costs.

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

Standard Closing Costs

Loan-Related Costs
  • Points — lower your interest rate (optional)
  • Appraisal Costs
  • Obtaining Your Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
  • Loan-related costs
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance if applicable
  • 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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