What are Closing Costs?

Every home sale involves fixed costs. Sellers and buyers usually split these closing costs, as specified in the real estate sales contract.

As you'll see below, many of the costs result from getting your mortgage. Since Price Mortgage Group LLC is highly experienced with closings and mortgages, we are closing cost experts.

The Good Faith Estimate (GFE)

Very shortly after you submit your application, we'll provide you with a "Good Faith Estimate" of your closing costs. We base this closing cost estimate on our extensive past experience. Please note that while our GFEs are very accurate, we cannot always estimate your closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that can vary a little bit at the closing table.

We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed 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
  • Escrow Account
  • Various Taxes
  • Loan-related costs
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance if applicable

Price Mortgage Group LLC can help you understand closing costs. Call us at 405-513-7700.

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