Closing Costs for Home Real Estate Transactions

All residential real estate sales involves costs. Buyers and sellers customarily split these closing costs, as specified in the sales contract.

As indicated below, many of the costs result from getting your mortgage. At Strategic Home Loans, Inc., we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Good Faith Estimate".

The Good Faith Estimate (Also know as the GFE)

Buyers get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the Good Faith Estimate (GFE) and closing. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that sometimes vary a little bit at the closing table.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you complete 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
  • Loan Origination Fee
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Pulling Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Strategic Home Loans, Inc. can answer questions about these closing costs. Give us a call at (805) 496-7500.