Closing Costs

Certain standard costs are related to closing the sale of a house. Buyers and sellers usually share these costs, as specified in the real estate sales contract.

As you'll see below, many of the buyer's costs are related to the costs of getting the loan. At Advantage Funding, we have extensive experience in residential mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing 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 your costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes change slightly at closing.

We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Advantage Funding, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs

• Points — A fee paid to lower your interest rate (optional)
• Appraisal Fee
• Getting Your Credit Report
• Up-front Interest Payment
• Escrow Account
• Taxes
• Costs related to "originating" your loan

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

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

Advantage Funding can answer questions about these closing costs. Give us a call at 925-628 6200.