What are Closing Costs?

Shopping for a mortgage loan? We'd be thrilled to talk about our many mortgage solutions! Call us at (206) 234-7544. Want to get started? Apply Here.

There are certain standard costs associated with closing the sale of a house. Sellers and buyers usually share these costs, as the real estate sales contract specifies.

As indicated below, many of the costs result from getting your mortgage loan. We are highly experienced in mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Very soon after you apply for a loan, we'll give you the "Good Faith Estimate" of your costs. The closing costs spelled out in the GFE are estimated based on experience with mortgage loans, but costs usually vary by small amounts between the GFE and closing. We will be glad to review the "Good Faith Estimate," answering your questions and pointing out costs that can vary a little bit at closing.

We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you complete your application. 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
  • Taxes
  • Loan Origination Fee
  • Points — lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance if applicable

Javier can help you understand closing costs. Call us at (206) 234-7544.