Closing Costs for Residential Real Estate Transactions

"Closing Costs" are the fees that cover the various services involved when you sell or buy residential real estate. Buyers & sellers often negotiate the payment of these closing costs.

Many of the costs associated with buying residential real estate are associated with getting a mortgage loan. At The Reen Team at American Pacific Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Good Faith Estimate".

Good Faith Estimate (Also know as the GFE)

Soon after you submit your application, we will give you a "Good Faith Estimate" of your costs. We base this closing cost estimate on our extensive past experience. It's important to note that while our GFEs are very precise, we can't always estimate your costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and pointing out costs that can vary a little bit at closing.

We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your application. At The Reen Team at American Pacific Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

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

At The Reen Team at American Pacific Mortgage, we answer questions about closing costs every day. Give us a call: (408) 626-1879.

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