What are Closing Costs?

There are certain standard costs related to closing the sale of a house. Sellers and buyers usually split these costs, as specified in the real estate sales contract.

As you'll see below, many of the buyer's costs are related to the costs of originating the mortgage loan. Since Tenby J. Dahman is highly experienced with mortgages & closings, we are closing cost experts.

The Loan Estimate (LE)

Buyers get 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. It's important to note that while our LEs are very precise, we cannot always predict your costs to the penny. We go over LEs with buyers 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, 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
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan Origination Fee
  • Points — lower your interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Tenby J. Dahman can help you understand closing costs. Give us a call: 3038627760.