"Closing Costs" are the fees which cover the various services involved when you sell or buy a home. Sellers & buyers often negotiate to determine who will pay different portions of these costs.
As the list below indicates, many of the costs result from getting your loan. Since Abundance Home Mortgage has extensive experience with closings & mortgages, we are closing cost experts.
Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the GFE are estimated based on Abundance Home Mortgage's experience with mortgage loans, but costs often change by small amounts between delivery of the GFE and closing. We answer buyers' questions about closing costs every day at Abundance Home Mortgage, so please feel free to contact us if we can help answer your questions.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Abundance Home Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Interest Payment Escrow Fees Various TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Costs Pulling YourCredit Report
Insurance Transfer Taxes & Recording Fees
Title Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI)
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