About Closing Costs

"Closing Costs" are the fees that pay for various services involved in the sale of a house. Sellers & buyers often negotiate to decide how to share these costs.

Many of the costs associated with buying a home are associated with getting a mortgage. Since Advantage Funding is highly experienced with closings & mortgages, we can help you understand your closing costs.

Loan Estimate (LE)

Buyers will get 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. It's important to note that while our LEs are very accurate, we cannot always estimate costs to the penny. We go over LEs with buyers almost every day, so we are happy to answer your questions about closing costs.

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

Standard Closing Costs

Loan-Related Costs

• Appraisal Fee
• Credit Report
• Interest Payment
• Escrow Account
• Various Taxes
• Loan-related costs
• Points — These are costs you pay up-front to lower your interest rate (optional)

Property Taxes

• Transfer Taxes and Recording Fees
• Insurance

Homeowners Insurance

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

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