All residential real estate sales incurs costs. Buyers and sellers customarily share these costs, as the real estate sales contract specifies.
Many of the closing costs associated with buying a home are associated with getting a mortgage. 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".
Buyers will get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the GFE are estimated based on The Reen Team at American Pacific Mortgage's experience with mortgage loans, but costs often change by small amounts between the Good Faith Estimate (GFE) and closing. We answer questions about closing costs every day at The Reen Team at American Pacific Mortgage, so don't hesitate to contact us if you have questions.
Below you'll find a fairly generic list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we provide your Good Faith Estimate.
Standard Closing Costs
Escrow Fees TaxesCosts associated with "originating" your loan Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment
Recording Fees and Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance if applicable
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