Certain standard costs are associated with closing the sale of a home. Sellers and buyers almost always share these costs, as the sales contract specifies.
As you'll see below, many of the costs result from getting your loan. Since Abundance Home Mortgage has extensive experience with closings and mortgages, we can help you understand your closing costs.
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between delivery of the LE and closing. We answer questions about closing costs every day at Abundance Home Mortgage, so please be sure to contact us if you have questions.
Below is a general list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
Obtaining YourCredit Report Interest Payment Escrow Fees Various TaxesCosts related to "originating" your loan Points — lower your mortgage interest rate (optional) Appraisal Costs
Insurance Transfer Taxes and Recording Fees
Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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