What are Closing Costs?

All residential real estate transactions involves certain costs. Buyers and sellers almost always split these costs, as the sales contract specifies.

As indicated below, many of the buyer's costs cover the costs of getting the loan. Since Custom Lending Group has extensive experience with closings and mortgages, we are closing cost experts.

Good Faith Estimates (GFEs)

Very soon after you apply for a loan, we'll provide you with the "Good Faith Estimate" of your closing costs. The closing costs spelled out in the GFE are estimated based on Custom Lending Group's experience with mortgage loans, but costs usually vary by small amounts between delivery of the GFE and closing. We answer buyers' questions about these costs every day at Custom Lending Group, so please feel free to contact us if we can help answer your questions.

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

Standard Closing Costs

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

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

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