Closing Costs for Residential Real Estate Transactions
"Closing Costs" are the fees that pay for various services involved in the sale of residential real estate. Sellers & buyers often negotiate the payment of these costs.
As you'll see below, many of the buyer's closing costs cover the costs of getting the loan. At Executive Lending Group, LLC, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Good Faith Estimate".
Good Faith Estimates (GFEs)
Buyers will get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The cost estimate comes out of our past experience. It's important to note that while our GFEs are very accurate, we cannot always predict your closing costs to the penny. We answer buyers' questions about these costs every day at Executive Lending Group, LLC, so please feel free to contact us if you have questions.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you complete your application. At Executive Lending Group, LLC, 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
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Fees
- Transfer Taxes and Recording Fees
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Quake Insurance if applicable
Executive Lending Group, LLC can answer questions about these closing costs. Give us a call at (816) 525-8000 & (81.
Got a Question?
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.