How do Closing Costs Work?

All residential real estate transactions involves certain fixed costs. Buyers and sellers customarily split these closing costs, as the real estate sales contract specifies.

As you'll see below, many of the closing costs result from getting your mortgage. Since Carter Financial Solutions has extensive experience with closings & mortgages, we are closing cost experts.

Loan Estimate (Also known as the LE)

Very soon after you apply for a loan, we will provide you with the "Loan Estimate" of your costs. The closing costs spelled out in the LE are estimated based on Carter Financial Solutions's experience with mortgage loans, but costs usually change by small amounts between the LE and closing. We answer questions about closing costs every day at Carter Financial Solutions, so please be sure to contact us if you have questions.

Below is a generic list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
  • Loan-related costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Fee
  • Credit Report
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At Carter Financial Solutions, we answer questions about closing costs every day. Call us: 8668408745.

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Carter Financial Solutions

2291 W. March Ln Suite A100
Stockton, CA 95207