Closing Costs for Residential Real Estate Transactions
"Closing Costs" are the fees which cover various services involved in the sale of residential real estate. Sellers and buyers usually negotiate to decide how to split these closing costs.
Many of the closing costs associated with buying a home are associated with getting the loan. Since Turnkey Mortgage Group - NMLS#70160
David Yeary, Mortgage Loan Originator NMLS#1837725 is highly experienced with closings and mortgages, we are closing cost experts.
The Loan Estimate (LE)
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we can't always predict your closing costs to the penny. We review LEs with buyers every day, so we are happy to answer your questions about closing costs.
Below is a general list of costs for buying a home. We will provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs
- Points — lower your mortgage interest rate (optional)
- Appraisal Costs
- Credit Report
- Interest Payment
- Escrow Fees
- Loan Origination Fee
- Transfer Taxes and Recording Fees
- Title Insurance
- Flood / Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
Turnkey Mortgage Group - NMLS#70160
David Yeary, Mortgage Loan Originator NMLS#1837725 can answer questions about these closing costs. Give us a call at 7133252099.