Don't Forget Closing Costs
"Closing Costs" are the fees which pay for the various services involved in the sale of a house. Sellers and buyers almost always negotiate to decide how to split these costs.
As indicated below, many of the costs result from getting your loan. At Affinity Mortgage Brokers, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Good Faith Estimate".
Good Faith Estimates (GFEs)
Soon after you apply for a loan, we will give you the "Good Faith Estimate" of your closing costs. The closing costs specified in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs usually change by small amounts between the Good Faith Estimate (GFE) and closing. We field questions about these costs every day at Affinity Mortgage Brokers, 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 have completed your application. At Affinity Mortgage Brokers, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Appraisal Costs
- Pulling Your Credit Report
- Up-front Interest Payment
- Escrow Fees
- Various Taxes
- Loan Origination Fee
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Transfer Taxes & Recording Fees
- Flood or Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
- Title Insurance
Affinity Mortgage Brokers can answer questions about these closing costs. Call us: 719-425-2226.