How do Closing Costs Work?

There are certain standard costs related to closing the sale of a home. Sellers and buyers customarily split these costs, as specified in the sales contract.

As indicated below, many of the closing costs result from getting your mortgage loan. Since Carter Financial Solutions has extensive experience with mortgages & closings, we often explain the details of closing costs.

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the LE and closing. We handle buyers' questions about these costs every day at Carter Financial Solutions, so please be sure to ask if we can help answer your 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 complete your application. At Carter Financial Solutions, 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
  • Taxes
  • Loan-related costs
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Obtaining Your Credit Report
  • Up-front Interest Payment
  • Escrow Fees
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Carter Financial Solutions can answer questions about these closing costs. Give us a call at 866-840-8745 x2.

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Carter Financial Solutions

1810 Pacific Ave
Stockton, CA 95204