Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees that cover various services involved when you sell or buy residential real estate. Sellers & buyers usually negotiate to determine who will pay different portions of these closing costs.

As you'll see below, many of the buyer's costs are related to the costs of originating the mortgage loan. Since The Reen Team at American Pacific Mortgage has extensive experience with closings and mortgages, we are closing cost experts.

The Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change by small amounts between the Loan Estimate (LE) and closing. We field questions about these costs every day at The Reen Team at American Pacific Mortgage, so don't hesitate to ask if we can help answer your questions.

Below is a general list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Obtaining YourCredit Report
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance

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

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