Your Closing Costs
Every home sale involves certain fixed costs. Buyers and sellers usually split these closing costs, as the sales contract specifies.
As you'll see below, many of the buyer's closing costs cover the costs of getting the mortgage loan. Since Equity Edge Mortgage, Inc. has extensive experience with closings & mortgages, we are closing cost experts.
The Good Faith Estimate (GFE)
Soon after you apply for a loan, we'll give you the "Good Faith Estimate" of your closing costs. The closing costs spelled out in the GFE are estimated based on Equity Edge Mortgage, Inc.'s experience with mortgage loans, but costs often change by small amounts between the Good Faith Estimate (GFE) and closing. We go over GFEs with buyers every day, so we'd be glad to answer your questions about closing costs.
We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your application. At Equity Edge Mortgage, Inc., we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing CostsLoan-Related Costs
- Loan Origination Fee
- Points — lower your mortgage interest rate (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Fees
- Transfer Taxes & Recording Fees
- Title Insurance
- Flood / Earthquake Insurance
- Private Mortgage Insurance (PMI)