Don't Forget Closing Costs

"Closing Costs" are the fees which cover the various services involved when you sell or buy residential real estate. Buyers & sellers negotiate to decide how to share these costs.

As indicated below, many of the buyer's closing costs are related to the costs of originating the loan. At Tenby J. Dahman, we have extensive experience in mortgage lending, so we can compile a comprehensive report on mortgage-related 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 spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the LE and closing. We handle questions about closing costs every day at Tenby J. Dahman, so please be sure to contact us if we can help answer your questions.

We've provided a general list of closing costs below, but we'll give 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

Loan-Related Costs

• Up-front Interest Payment
• Escrow Fees
• Various Taxes
• Loan Origination Fee
• Points — A fee paid to lower your interest rate (optional)
• Appraisal Fee
• Obtaining YourCredit Report

Property Taxes

• Transfer Taxes & Recording Fees
• Insurance

Homeowners Insurance

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

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