Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which pay for the various services involved when you sell or buy a home. Buyers and sellers usually negotiate to determine who will pay different portions of these costs.

Many of the closing costs associated with buying a house are associated with getting the mortgage loan. At Valley Savers Mortgage, LLC, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimate (GFE)

Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. Please note that while our GFEs are very accurate, we cannot always predict closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering questions and highlighting costs that sometimes change slightly at closing.

Below you'll find a fairly generic list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we give you a Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Valley Savers Mortgage, LLC can help you understand closing costs. Give us a call at (602) 332-9544.

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