Closing Costs for Residential Real Estate Transactions

"Closing Costs" are the fees that pay for various services involved when you sell or buy a house. Sellers & buyers usually negotiate these costs.

Many of the costs associated with buying a home are associated with getting the mortgage loan. Since Town & Country Home Loans, Inc. is highly experienced with closings & mortgages, we are closing cost experts.

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the Loan Estimate are estimated based on Town & Country Home Loans, Inc.'s experience with mortgage loans, but costs often vary by small amounts between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can change slightly at the closing table.

Below is a fairly general list of costs for buying residential real estate. We will always provide 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
• Various Taxes
• Loan Origination Fee
• Points — A fee paid to lower your interest rate (optional)
• Appraisal Fee
• Pulling YourCredit Report

Property Taxes

• Insurance
• Recording Fees & Transfer Taxes

Homeowners Insurance

• Flood / Quake Insurance if applicable
• Private Mortgage Insurance (PMI)
• Title Insurance

Town & Country Home Loans, Inc. can help you understand closing costs. Call us at (760)789-9995.