What are Closing Costs?

"Closing Costs" are the fees which cover various services involved when you sell or buy a house. Sellers & buyers negotiate to decide how to split these costs.

As indicated below, many of the buyer's closing costs are related to the costs of getting the mortgage loan. Since Town & Country Home Loans, Inc. has extensive experience with mortgages and closings, we are closing cost experts.

The Loan Estimate (LE)

Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing cost estimate comes out of our past experience. It's important to note that while our LEs are very precise, we cannot always estimate closing costs to the penny. We field questions about these costs every day at Town & Country Home Loans, Inc., so please feel free to contact us if you have questions.

Below is a general list of closing costs. We will always provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Costs related to "originating" your loan
• Points — A fee paid to lower your interest rate (optional)
• Appraisal Fee
• Getting Your Credit Report
• Interest Payment
• Escrow Fees
• Various Taxes

Property Taxes

• Insurance
• Transfer Taxes & Recording Fees

Homeowners Insurance

• Flood or Earthquake Insurance
• Private Mortgage Insurance (PMI)
• Title Insurance

Town & Country Home Loans, Inc. can answer questions about these closing costs. Give us a call at (760)789-9995.