Certain standard costs are related to closing the sale of a home. Sellers and buyers almost always share these costs, as the real estate sales contract specifies.
As indicated below, many of the costs result from getting your mortgage. At 1st Security Home Mortgage Corp, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Good Faith Estimate".
Buyers get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the Good Faith Estimate are estimated based on 1st Security Home Mortgage Corp's experience with mortgage loans, but costs usually change by small amounts between delivery of the GFE and closing. We go over GFEs with buyers every day, so we'd be glad to answer your questions about closing costs.
Below you'll find a fairly generic list of costs for buying a home. We will always provide you with a specific list of your closing costs when we deliver your Good Faith Estimate.
Standard Closing Costs
Credit Report Interest Payment Escrow Account Various TaxesLoan Origination Fee Points — A fee paid to lower your interest rate (optional) Appraisal Fee
Recording Fees & Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance if applicable
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