What are Closing Costs?

Every home sale involves certain costs. Buyers and sellers customarily share these closing costs, as specified in the real estate sales contract.

As indicated below, many of the costs result from getting your loan. Since Custom Lending Group has extensive experience with mortgages and closings, we are closing cost experts.

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. This cost estimate comes out of our past experience. It's important to note that while our LEs are very precise, we cannot always estimate your closing costs to the penny. We handle buyers' questions about closing costs every day at Custom Lending Group, so please be sure to ask if we can help answer your questions.

Below you'll find a generic list of closing costs. We will always provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

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

Custom Lending Group can help you understand closing costs. Give us a call: 7072522700.

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