Closing Costs for Home Real Estate Transactions

Certain standard costs are associated with closing the sale of a home. Sellers and buyers customarily split these costs, as the sales contract specifies.

Many of the closing costs associated with buying a home are associated with getting a mortgage loan. At Custom Lending Group, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on mortgage-related closing costs in your "Loan Estimate".

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the Loan Estimate are estimated based on Custom Lending Group's experience with mortgage loans, but costs usually vary by small amounts between delivery of the Loan Estimate (LE) and closing. We field questions about closing costs every day at Custom Lending Group, so please feel free to ask if we can help answer your questions.

We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Custom Lending Group, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

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

At Custom Lending Group, we answer questions about closing costs every day. Call us at 7072522700.

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