Closing Costs for Residential Real Estate Transactions

Every home sale incurs certain fixed costs. Buyers and sellers usually split these costs, as the sales contract specifies.

As you'll see below, many of the costs result from getting your loan. Since Great Mortgage NMLS#478647 is highly experienced with mortgages and closings, we can help you understand your closing costs.

Loan Estimate (Also known as the LE)

Soon after you submit your application, we will give you the "Loan Estimate" of your costs. This closing cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very precise, we cannot always predict closing costs to the penny. We answer questions about these costs every day at Great Mortgage NMLS#478647, so don't hesitate to ask if we can help answer your questions.

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 Great Mortgage NMLS#478647, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Escrow Fees
  • Various Taxes
  • Loan Origination Fee
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
  • Obtaining Your Credit Report
  • Up-front Interest Payment
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)

At Great Mortgage NMLS#478647, we answer questions about closing costs every day. Give us a call at 708.966.9005.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question