What are Closing Costs?

"Closing Costs" are the fees which pay for various services involved when you sell or buy a house. Buyers & sellers negotiate to decide how to share these costs.

Many of the costs associated with buying a home are associated with getting a loan. Since Price Mortgage Group LLC is highly experienced with mortgages and closings, we can help you understand your closing costs.

Loan Estimate (LE)

Soon after you apply for a loan, we will provide you with a "Loan Estimate" of your costs. We base this cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we cannot always estimate closing costs to the penny. We review Loan Estimates with buyers every day, so we will be happy to answer your questions about closing costs.

Below you'll find a fairly general list of closing costs. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

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

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

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