Don't Forget Closing Costs

All residential real estate transactions incurs certain fixed costs. Buyers and sellers almost always split these costs, as the sales contract specifies.

Many of the costs associated with buying a home are associated with getting a mortgage loan. At Strategic Home Loans, Inc., we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

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

Below you'll find a fairly general list of closing costs. We will provide you with a specific list of your closing costs when we provide your Good Faith Estimate.

Standard Closing Costs

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

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