About Closing Costs

"Closing Costs" are the fees that pay for various services involved in the sale of a home. Buyers and sellers usually negotiate to decide how to share these closing costs.

Many of the closing costs associated with buying a home are associated with getting the mortgage. At Advantage Funding, we are highly experienced in mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".

The Loan Estimate (LE)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. Please note that while our LEs are very precise, we can't always estimate closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes vary a little bit at closing.

Below you'll find a generic 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
  • Costs related to "originating" your loan
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Getting Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Advantage Funding can help you understand closing costs. Give us a call at 925-628 6200.