What are Closing Costs?

Every home sale incurs certain costs. Buyers and sellers usually share these costs, as the sales contract specifies.

As indicated below, many of the buyer's costs are related to the costs of getting the mortgage loan. At Pacificwide Lending, we have extensive experience in residential mortgage lending, so we can compile a comprehensive report on mortgage-related closing costs in your "Loan Estimate".

Loan Estimates (LEs)

Buyers will 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 many years of past experience. Please note that while our LEs are very precise, we can't always predict your closing costs to the penny. We go over Loan Estimates with buyers almost every day, so we are happy to answer your questions about closing costs.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Pacificwide Lending, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan Origination Fee
  • Points — lower your interest rate (optional)
  • Appraisal Fee
  • Obtaining YourCredit Report
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Pacificwide Lending can help you understand closing costs. Call us: 9254610500.

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Pacificwide Lending

CA License #01762647 NMLS#241222, TX License #241222, FL License # MBR 3291

7041 Koll Center Pkwy Ste 270 Ste 270
Pleasanton, CA 94566