About Closing Costs

Every home sale involves certain fixed costs. Sellers and buyers almost always split these closing costs, as specified in the real estate sales contract.

Many of the closing costs associated with buying a home are associated with getting the mortgage loan. At Great Mortgage NMLS#478647, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Soon after you apply for a loan, we'll provide you with the "Loan Estimate" of your costs. We base this cost estimate on our many years of past experience. Please note that while our LEs are very precise, we can't always estimate your costs to the penny. We review Loan Estimates with buyers every day, so we are happy to answer the you have about closing costs.

We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you complete your application. At Great Mortgage NMLS#478647, 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
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Costs
  • Pulling Your Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
  • Costs related to "originating" your loan
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Flood / Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Great Mortgage NMLS#478647 can help you understand closing costs. Call us: 708.966.9005.

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