There are certain standard costs related to closing the sale of a home. Buyers and sellers customarily share these costs, as specified in the real estate sales contract.
As the list below indicates, many of the costs result from getting your mortgage loan. At Pacificwide Lending, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".
Buyers will 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 our experience with mortgage loans, but costs usually change by small amounts between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can change slightly at closing.
We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, soon after you complete 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 TaxesLoan-related costs Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs Pulling Your Credit Report Up-front Interest Payment Escrow Account Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Title Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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