About Closing Costs

All residential real estate transactions incurs certain fixed costs. Sellers and buyers almost always split these costs, as specified in the sales contract.

As the list below indicates, many of the closing costs result from getting your mortgage loan. Since The Reen Team at American Pacific Mortgage is highly experienced with mortgages & closings, we are closing cost experts.

Good Faith Estimates (GFEs)

Very soon after you apply for a loan, we'll give you the "Good Faith Estimate" of your closing costs. The closing costs spelled out in the GFE are estimated based on our experience with mortgage loans, but costs often change by small amounts between the GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and highlighting costs that can change slightly at closing.

We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, 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
  • Various Taxes
  • Loan Origination Fee
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

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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