How do Closing Costs Work?

"Closing Costs" are the fees that pay for various services involved when you sell or buy a house. Buyers & sellers often negotiate the payment of these costs.

Many of the closing costs associated with buying residential real estate are associated with getting a loan. Since Carter Financial Solutions has extensive experience with mortgages and closings, we can help you understand your closing costs.

Loan Estimates (LEs)

Buyers will get 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 many years of past experience. It's important to note that while our LEs are very accurate, we cannot always estimate closing costs to the penny. We field buyers' questions about closing costs every day at Carter Financial Solutions, so don't hesitate to contact us if we can help answer your questions.

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 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
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Loan Origination Fee
  • Points — lower your interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance if applicable

At Carter Financial Solutions, we answer questions about closing costs every day. Give us a call at 8668408745.

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Carter Financial Solutions

2291 W. March Ln Suite A100
Stockton, CA 95207