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How do Closing Costs Work?

"Closing Costs" are the fees which cover various services involved in the sale of a house. Sellers & buyers usually negotiate the payment of these closing costs.

As the list below indicates, many of the costs result from getting your loan. At Town & Country Home Loans, Inc., we have extensive experience in mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".

Loan Estimate (LE)

Very soon after you apply for a loan, we will provide you with a "Loan Estimate" of your closing costs. The closing cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very precise, we can't always estimate closing costs to the penny. We review Loan Estimates with buyers almost every day, so we'd be glad to answer the you have about closing costs.

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 have completed your application. At Town & Country Home Loans, Inc., 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
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your interest rate (optional)
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At Town & Country Home Loans, Inc., we answer questions about closing costs every day. Give us a call: (760)789-9995.

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