Don't Forget Closing Costs

"Closing Costs" are the fees which cover various services involved when you sell or buy residential real estate. Buyers & sellers negotiate these closing costs.

As you'll see below, many of the closing costs result from getting your mortgage loan. Since Advantage Funding has extensive experience with closings & mortgages, we often explain the details of closing costs.

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs at 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 accurate, we cannot always estimate your costs to the penny. We field questions about closing costs every day at Advantage Funding, so please be sure to contact us if you have questions.

Below you'll find a general list of closing costs. We will always provide you with a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Appraisal Costs
• Credit Report
• Up-front Interest Payment
• Escrow Account
• Taxes
• Costs associated with "originating" your loan
• Points — These are costs you pay up-front to lower your mortgage interest rate (optional)

Property Taxes

• Insurance
• Transfer Taxes and Recording Fees

Homeowners Insurance

• Flood / Earthquake Insurance
• Private Mortgage Insurance (PMI)
• Title Insurance

At Advantage Funding, we answer questions about closing costs every day. Give us a call: 925-628 6200.