"Closing Costs" are the fees that pay for the various services involved in the sale of residential real estate. Sellers & buyers often negotiate the payment of these costs.
As indicated below, many of the closing costs result from getting your mortgage loan. Since Pacificwide Lending has extensive experience with closings & mortgages, we can help you understand your closing costs.
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs specified in the LE are estimated based on Pacificwide Lending's experience with mortgage loans, but costs often vary by small amounts between the Loan Estimate (LE) and closing. We handle questions about these costs every day at Pacificwide Lending, so don't hesitate to ask if we can help answer your 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 have completed your 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 Loan Origination Fee Points — lower your mortgage interest rate (optional) Appraisal Costs Obtaining Your Credit Report Up-front Interest Payment Escrow Fees Taxes Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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