Closing Costs for Home Real Estate Transactions
There are certain standard costs associated with closing the sale of a house. Buyers and sellers customarily split these closing costs, as specified in the sales contract.
As indicated below, many of the buyer's costs are related to the costs of getting the loan. At Executive Lending Group, LLC, we are highly experienced in mortgage lending, so we can compile a comprehensive report on costs related to your mortgage in your "Good Faith Estimate".
Good Faith Estimates (GFEs)
Soon after you apply for a loan, we will provide you with a "Good Faith Estimate" of your closing costs. The closing costs specified in the GFE are estimated based on Executive Lending Group, LLC's experience with mortgage loans, but costs often vary a little bit between delivery of the Good Faith Estimate (GFE) and closing. We will be glad to review the "Good Faith Estimate," answering questions and highlighting costs that sometimes vary a little bit at the closing table.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, very 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
- 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 Costs
- Pulling Your Credit Report
- Interest Payment
- Transfer Taxes and Recording Fees
- Title Insurance
- Flood or Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
Executive Lending Group, LLC can help you understand 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.