Certain standard costs are associated with closing the sale of a home. Buyers and sellers usually split these closing costs, as the real estate sales contract specifies.
As you'll see below, many of the buyer's closing costs are related to the costs of getting the loan. At Custom Lending Group, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".
Very soon after you submit your application, we will provide you with a "Good Faith Estimate" of your closing costs. The closing costs enumerated in the GFE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between the Good Faith Estimate (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 you'll find a generic list of costs for buying a home. We will always provide you with a specific list of your closing costs when we give you a Good Faith Estimate.
Standard Closing Costs
Appraisal Fee Getting Your Credit Report Interest Payment Escrow Account TaxesLoan Origination Fee Points — lower your interest rate (optional)
InsuranceRecording Fees & Transfer Taxes
Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance
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