Closing Costs for Residential Real Estate Transactions

"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Sellers & buyers almost always negotiate the payment of these costs.

As you'll see below, many of the buyer's closing costs are related to the costs of originating the loan. At Price Mortgage Group LLC, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Very soon after you apply for a loan, we'll give you the "Good Faith Estimate" of your closing costs. The closing costs spelled out in the GFE are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between the GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that can change slightly at closing.

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 Price Mortgage Group LLC, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan-related costs
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At Price Mortgage Group LLC, we answer questions about closing costs every day. Give us a call: 405-513-7700.

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