Closing Costs for Residential Real Estate Transactions

"Closing Costs" are the fees which cover the various services involved when you sell or buy a house. Sellers and buyers negotiate these closing costs.

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

Good Faith Estimates (GFEs)

Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the GFE are estimated based on our experience with mortgage loans, but costs often change a little bit between delivery of the GFE and closing. We review GFEs with buyers almost every day, so we are happy to answer the you have about closing costs.

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

The Reen Team at American Pacific Mortgage can answer questions about these closing costs. Call us at (408) 626-1879.

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