Closing Costs for Residential Real Estate Transactions

All residential real estate sales incurs fixed costs. Sellers and buyers usually split these closing costs, as specified in the sales contract.

As indicated below, many of the buyer's costs are related to the costs of getting the loan. At The Reen Team at American Pacific Mortgage, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Soon after you apply for a loan, we will provide you with a "Good Faith Estimate" of your closing costs. We base this cost estimate on our extensive past experience. Please note that while our GFEs are very precise, we can't always predict closing costs to the penny. We answer questions about closing costs every day at The Reen Team at American Pacific Mortgage, so please feel free to contact us if you have questions.

Below you'll find a general list of costs for buying a home. We will provide a specific list of your closing costs when we give you a Good Faith Estimate.

Standard Closing Costs

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

The Reen Team at American Pacific Mortgage can help you understand closing costs. Give us a call at (408) 626-1879.

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