Closing Costs for Residential Real Estate Transactions

Every home sale involves certain fixed costs. Sellers and buyers customarily share these costs, as specified in the sales contract.

Many of the costs associated with buying a house are associated with getting the loan. Since Custom Lending Group is highly experienced with closings & mortgages, we are closing cost experts.

The Good Faith Estimate (Also know as the GFE)

Soon after you submit your application, we will provide you with the "Good Faith Estimate" of your costs. This cost estimate is based on the loan officer's past experience. Please note that while our GFEs are very precise, we cannot always estimate closing costs to the penny. We review GFEs with buyers every day, so we will be happy to answer any questions you have about closing costs.

Below you'll find a general list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we deliver your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Pulling Your Credit Report
  • Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan-related costs
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Quake Insurance
  • Private Mortgage Insurance (PMI)

Custom Lending Group can help you understand closing costs. Give us a call at (707) 252-2700.

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