About Closing Costs

All residential real estate transactions involves certain fixed costs. Buyers and sellers customarily split these closing costs, as the sales contract specifies.

As you'll see below, many of the costs result from getting your mortgage loan. At Tenby J. Dahman, we are highly experienced in mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

Loan Estimate (Also known as the LE)

Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on Tenby J. Dahman's experience with mortgage loans, but costs often change by small amounts between delivery of the LE and closing. We go over Loan Estimates with buyers almost every day, so we'd be glad to answer your questions about closing costs.

Below is a fairly generic 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
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Fees
  • Taxes
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Tenby J. Dahman can help you understand closing costs. Call us at 3038627760.