About Closing Costs
"Closing Costs" are the fees that pay for various services involved when you sell or buy residential real estate. Sellers and buyers often negotiate these closing costs.
As indicated below, many of the buyer's closing costs cover the costs of originating the loan. Since Strategic Home Loans, Inc. has extensive experience with mortgages and closings, we can help you understand your closing costs.
Good Faith Estimate (Also know as the GFE)
Soon after you submit your application, we will give you the "Good Faith Estimate" of your closing costs. The closing costs enumerated in the GFE are estimated based on Strategic Home Loans, Inc.'s experience with mortgage loans, but costs usually change a little bit between delivery of the GFE and closing. We field questions about closing costs every day at Strategic Home Loans, Inc., so don't hesitate to contact us if you have questions.
Below you'll find a fairly general list of costs for buying a home. We will provide a specific list of your closing costs when we give you a Good Faith Estimate.
Standard Closing Costs
- Loan-related costs
- Points — lower your mortgage interest rate (optional)
- Appraisal Fee
- Pulling Your Credit Report
- Up-front Interest Payment
- Escrow Fees
- Recording Fees & Transfer Taxes
- Flood or Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
At Strategic Home Loans, Inc., we answer questions about closing costs every day. Give us a call: (805) 496-7500.