What are Closing Costs?

All residential real estate transactions incurs certain costs. Sellers and buyers usually split these closing costs, as specified in the sales contract.

Many of the closing costs associated with buying a home are associated with getting the mortgage loan. At Custom Lending Group, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".

Loan Estimate (LE)

Soon after you submit your application, we'll provide you with a "Loan Estimate" of your closing costs. The closing cost estimate is based on the loan officer's past experience. Please note that while our LEs are very precise, we cannot always estimate costs to the penny. We field buyers' questions about these costs every day at Custom Lending Group, so please be sure to contact us if we can help answer your questions.

Below is a generic list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Credit Report
  • Interest Payment
  • Escrow Fees
  • Taxes
  • Loan Origination Fee
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Custom Lending Group can help you understand closing costs. Call us: (707) 252-2700.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question