About Closing Costs
"Closing Costs" are the fees that cover the various services involved when you sell or buy a home. Sellers and buyers often negotiate to decide how to split these costs.
As you'll see below, many of the closing costs result from getting your mortgage. Since Tenby J. Dahman is highly experienced with mortgages & closings, we are closing cost experts.
Good Faith Estimates (GFEs)
Soon after you submit your application, we'll give you a "Good Faith Estimate" of your costs. The closing costs enumerated in the GFE are estimated based on Tenby J. Dahman's experience with mortgage loans, but costs usually vary a little bit between the Good Faith Estimate (GFE) and closing. We go over GFEs with buyers almost every day, so we'd be glad to answer your questions about closing costs.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Tenby J. Dahman, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Up-front Interest Payment
- Escrow Account
- Loan Origination Fee
- Points — A fee paid to lower your interest rate (optional)
- Appraisal Costs
- Credit Report
- Transfer Taxes and Recording Fees
- Flood / Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
Tenby J. Dahman can answer questions about these closing costs. Give us a call: (303) 862-7760.