Closing Costs

"Closing Costs" are the fees that pay for various services involved in the sale of residential real estate. Buyers and sellers almost always negotiate these costs.

Many of the costs associated with buying a home are associated with getting a loan. Since Tenby J. Dahman has extensive experience with mortgages and closings, we often explain the details of closing costs.

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs at 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 usually change a little bit between the Loan Estimate (LE) and closing. We go over Loan Estimates with buyers almost every day, so we will be happy to answer the you have about closing costs.

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

Standard Closing Costs

Loan-Related Costs

• Loan Origination Fee
• Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
• Appraisal Costs
• Credit Report
• Interest Payment
• Escrow Fees
• Taxes

Property Taxes

• Insurance
• Recording Fees & Transfer Taxes

Homeowners Insurance

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

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