Closing Costs for Home Real Estate Transactions

Every home sale incurs certain fixed costs. Sellers and buyers customarily split these costs, as the real estate sales contract specifies.

As indicated below, many of the buyer's closing costs cover the costs of originating the mortgage loan. Since Abundance Home Mortgage is highly experienced with mortgages & closings, we can help you understand your closing costs.

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the Loan Estimate are estimated based on Abundance Home Mortgage's experience with mortgage loans, but costs often change a little bit between the Loan Estimate (LE) and closing. We field questions about these costs every day at Abundance Home Mortgage, so please feel free to contact us if you have questions.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you have completed 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

Loan-Related Costs
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
  • Loan Origination Fee
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood / Quake Insurance
  • Private Mortgage Insurance (PMI)

Abundance Home Mortgage can answer questions about these closing costs. Give us a call at (512) 335-7800.

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