Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which pay for various services involved when you sell or buy a home. Buyers and sellers usually negotiate to determine who will pay different portions of these costs.

As the list below indicates, many of the closing costs result from getting your mortgage loan. Since Tenby J. Dahman The Dahman Team has extensive experience with mortgages and closings, we can help you understand your closing costs.

The Loan Estimate (Also known as the LE)

Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. Please note that while our LEs are very precise, we cannot always estimate your costs to the penny. We go over Loan Estimates with buyers every day, so we will be happy to answer your questions about closing costs.

We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed your application. At Tenby J. Dahman The Dahman Team , 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 Account
• Taxes
• Costs related to "originating" your loan
• Points — A fee paid to lower your mortgage interest rate (optional)
• Appraisal Costs
• Credit Report

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

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

At Tenby J. Dahman The Dahman Team , we answer questions about closing costs every day. Give us a call at 3038627760.