About Closing Costs
There are certain standard costs related to closing the sale of a house. Buyers and sellers almost always share these closing costs, as the sales contract specifies.
As the list below indicates, many of the closing costs result from getting your mortgage. Since Advantage Funding is highly experienced with mortgages and closings, we are closing cost experts.
The Loan Estimate (Also known as the LE)
Soon after you apply for a loan, we'll provide you with the "Loan Estimate" of your closing costs. The closing costs specified in the LE are estimated based on Advantage Funding's experience with mortgage loans, but costs often change a little bit between delivery of the LE and closing. We field questions about closing costs every day at Advantage Funding, so please be sure to ask if you have questions.
Below is a generic list of closing costs. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
- Up-front Interest Payment
- Escrow Account
- Loan Origination Fee
- Points — lower your interest rate (optional)
- Appraisal Fee
- Pulling YourCredit Report
- Transfer Taxes and Recording Fees
- 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.