About Closing Costs

All residential real estate transactions incurs costs. Buyers and sellers almost always split these costs, as specified in the sales contract.

Many of the closing costs associated with buying residential real estate are associated with getting the mortgage. At Tenby J. Dahman, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on Tenby J. Dahman's experience with mortgage loans, but costs usually change a little bit between delivery of the LE and closing. We review Loan Estimates with buyers every day, so we'd be glad to answer your questions about closing costs.

Below is a fairly general list of costs for buying a home. We will always provide you with a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Up-front Interest Payment
• Escrow Account
• Various Taxes
• Costs related to "originating" your loan
• Points — These are costs you pay up-front to lower your interest rate (optional)
• Appraisal Fee
• Pulling YourCredit Report

Property Taxes

• Transfer Taxes and Recording Fees
• Insurance

Homeowners Insurance

• Title Insurance
• Flood or Quake Insurance if applicable
• Private Mortgage Insurance (PMI)

Tenby J. Dahman can answer questions about these closing costs. Give us a call: 3038627760.