Closing Costs for Home Real Estate Transactions
"Closing Costs" are the fees which cover various services involved when you sell or buy residential real estate. Sellers & buyers almost always negotiate to decide how to split these closing costs.
Many of the costs associated with buying a house are associated with getting the mortgage. Since Carter Financial Solutions is highly experienced with mortgages and closings, we can help you understand your closing costs.
Loan Estimates (LEs)
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. Please note that while our LEs are very precise, we can't always estimate your costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes change slightly at closing.
Below you'll find a fairly generic list of closing costs. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
- Interest Payment
- Escrow Fees
- Various Taxes
- Loan Origination Fee
- Points — lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Recording Fees & Transfer Taxes
- Flood / Earthquake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
Carter Financial Solutions can help you understand closing costs. Call us at 866-840-8745 x2.
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