About Closing Costs
"Closing Costs" are the fees that pay for the various services involved in the sale of a house. Sellers and buyers usually negotiate the payment of these costs.
As you'll see below, many of the costs result from getting your mortgage loan. Since Advantage Funding is highly experienced with closings and mortgages, we are closing cost experts.
Loan Estimates (LEs)
Very shortly after you apply for a loan, we will give you a "Loan Estimate" of your closing costs. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs often change a little bit between the Loan Estimate (LE) and closing. We go over LEs with buyers almost every day, so we are happy to answer any questions you have about closing costs.
Below you'll find a fairly general list of costs for buying a home. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
- Appraisal Costs
- Credit Report
- Up-front Interest Payment
- Escrow Fees
- Loan-related costs
- Recording Fees & Transfer Taxes
- Title Insurance
- Flood or Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
Advantage Funding can answer questions about these closing costs. Give us a call: 925-628 6200.