Don't Forget Closing Costs
There are certain standard costs related to closing the sale of a home. Buyers and sellers usually split these costs, as specified in the sales contract.
As indicated below, many of the costs result from getting your loan. At Tenby J. Dahman, we are highly experienced in mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Good Faith Estimate".
Good Faith Estimates (GFEs)
Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the GFE are estimated based on Tenby J. Dahman's experience with mortgage loans, but costs usually vary a little bit between the GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that sometimes change slightly at the closing table.
Below you'll find a generic list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we deliver your Good Faith Estimate.
Standard Closing Costs
- Various Taxes
- Loan-related costs
- Points — lower your interest rate (optional)
- Appraisal Fee
- Getting Your Credit Report
- Up-front Interest Payment
- Escrow Fees
- Recording Fees & Transfer Taxes
- Flood / Quake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
Tenby J. Dahman can answer questions about these closing costs. Give us a call: (303) 862-7760.