What are Closing Costs?

Every home sale involves certain fixed costs. Buyers and sellers usually split these closing costs, as the real estate sales contract specifies.

As indicated below, many of the closing costs result from getting your mortgage loan. Since Not Your Average Lender has extensive experience with mortgages & closings, we are closing cost experts.

Loan Estimates (LEs)

Soon after you apply for a loan, we will give you the "Loan Estimate" of your costs. The closing cost estimate comes out of our past experience. It's important to note that while our LEs are very precise, we can't always predict closing costs to the penny. We field buyers' questions about these costs every day at Not Your Average Lender, so please be sure to contact us if you have questions.

We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Not Your Average Lender, 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

• Loan-related costs
• Points — A fee paid to lower your interest rate (optional)
• Appraisal Fee
• Credit Report
• Up-front Interest Payment
• Escrow Fees
• Taxes

Property Taxes

• Transfer Taxes and Recording Fees
• Insurance

Homeowners Insurance

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

At Not Your Average Lender, we answer questions about closing costs every day. Call us: 9722039033.