Closing Costs for Residential Real Estate Transactions

"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Sellers & buyers negotiate these costs.

As the list below indicates, many of the closing costs result from getting your mortgage. Since Advantage Funding is highly experienced with closings & mortgages, we are closing cost experts.

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very accurate, we cannot always predict costs to the penny. We go over LEs with buyers every day, so we'd be glad to answer the you have about closing costs.

Below is a fairly general list of costs for buying a home. We will provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
  • Costs related to "originating" your loan
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Pulling YourCredit Report
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Title Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Advantage Funding can answer questions about these closing costs. Call us: 925-628 6200.