Closing Costs for Home Real Estate Transactions

Certain standard costs are related to closing the sale of a house. Buyers and sellers usually split these closing costs, as the sales contract specifies.

As the list below indicates, many of the costs result from getting your mortgage loan. At Strategic Home Loans, Inc., we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".

The Good Faith Estimate (Also know as the GFE)

Buyers will receive a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing cost estimate comes out of our past experience. It's important to note that while our GFEs are very accurate, we can't always estimate your costs to the penny. We review Good Faith Estimates with buyers almost every day, so we'd be glad to answer any questions you have 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, very soon after you have completed your application. At Strategic Home Loans, Inc., we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Appraisal Costs
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — lower your interest rate (optional)
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Earthquake Insurance if applicable

Strategic Home Loans, Inc. can help you understand closing costs. Call us at (805) 496-7500.