Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which cover various services involved when you sell or buy a house. Buyers and sellers almost always negotiate to determine who will pay different portions of these closing costs.

As indicated below, many of the buyer's costs are related to the costs of getting the mortgage loan. Since Advantage Funding has extensive experience with mortgages & closings, we are closing cost experts.

Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. This closing cost estimate is based on our past experience. Please note that while our LEs are very precise, we can't always estimate costs to the penny. We handle questions about these costs every day at Advantage Funding, so please be sure to ask if you have questions.

We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you complete your 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

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

Property Taxes

• Insurance
• Recording Fees and Transfer Taxes

Homeowners Insurance

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

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