How do Closing Costs Work?

"Closing Costs" are the fees that cover the various services involved in the sale of a house. Buyers & sellers usually negotiate to determine who will pay different portions of these costs.

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

Loan Estimates (LEs)

Soon after you submit your application, we'll provide you with a "Loan Estimate" of your closing costs. This cost estimate is based on our past experience. It's important to note that while our LEs are very accurate, we can't always predict costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes vary a little bit at the closing table.

Below you'll find a fairly generic list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Various Taxes
  • Costs associated with "originating" your loan
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)

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

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question
By checking the box, you agree that Price Mortgage Group LLC may call/text you about your inquiry, which may involve use of automated means and prerecorded/artificial voices.. Message/data rates may apply.