Closing Costs for Home Real Estate Transactions

There are certain standard costs associated with closing the sale of a home. Sellers and buyers usually share these closing costs, as the sales contract specifies.

As indicated below, many of the buyer's costs cover the costs of originating the loan. At Price Mortgage Group LLC, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This closing cost estimate is based on our past experience. Please note that while our LEs are very precise, we cannot always estimate costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes change slightly at closing.

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

Standard Closing Costs

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

Price Mortgage Group LLC can answer questions about these closing costs. Give us a call: 405-513-7700.

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