Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which cover the various services involved when you sell or buy a house. Buyers and sellers almost always negotiate to decide how to split these costs.

As you'll see below, many of the buyer's costs cover the costs of getting the mortgage loan. At Price Mortgage Group LLC, we have extensive experience in mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Good Faith Estimate".

The Good Faith Estimate (Also know as the GFE)

Buyers get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between delivery of the Good Faith Estimate (GFE) and closing. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that can change slightly at closing.

We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you complete your application. At Price Mortgage Group LLC, 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
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan-related costs
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At Price Mortgage Group LLC, we answer questions about closing costs every day. Call us at 405-513-7700.

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