About Closing Costs

All residential real estate transactions incurs fixed costs. Buyers customarily incur these costs, as the sales contract specifies, however, depending on the contract the seller may be required to pay some of the closing costs. "Closing Costs" are the fees that cover the various services involved when you sell or buy a home. These fees can be paid out of pocket or indirectly by crediting the loan.

Many of the closing costs associated with buying a home are associated with getting a mortgage. Since Not Your Average Lender. is highly experienced with mortgages & closings, we can help you understand your closing costs.

The Loan Estimate

Buyers will receive a Loan Estimate by three days from when the loan application is submitted to the lender. The Loan Estimate details information like insurance and taxes, closing costs, monthly payments and more. Getting an estimate doesn't mean you've been approved, rather it's the first step toward getting your loan.

We go over estimates with buyers almost every day, so we'd be glad to answer your questions about closing costs.

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 loan application. At Not Your Average Lender, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

• Pulling Your Credit Report
• Up-front Interest Payment
• Escrow Fees
• Loan Origination Fee
• Points — These are costs you pay up-front to lower your interest rate (optional)
• Appraisal Costs

• Recording Fees & Transfer Taxes
• Insurance

• Flood or Earthquake Insurance if applicable
• Private Mortgage Insurance (PMI)
• Title Insurance