Closing Costs for Residential Real Estate Transactions

There are certain standard costs associated with closing the sale of a home. Sellers and buyers usually split these closing costs, as specified in the sales contract.

As you'll see below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. At Strategic Home Loans, Inc., we have extensive experience in mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Very soon after you submit your application, we'll give you the "Good Faith Estimate" of your closing costs. The closing costs enumerated in the Good Faith Estimate are estimated based on Strategic Home Loans, Inc.'s experience with mortgage loans, but costs usually vary a little bit between delivery of the GFE and closing. We explain Good Faith Estimates with buyers every day, so we are happy to answer the you have about closing costs.

Below is a generic list of closing costs. We will always provide you with a specific list of your closing costs when we give you a Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Various Taxes
  • Loan-related costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Fee
  • Obtaining Your Credit Report
  • Interest Payment
  • Escrow Fees
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance if applicable

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