Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees that cover various services involved in the sale of residential real estate. Sellers & buyers usually negotiate these costs.

As you'll see below, many of the buyer's costs are related to the costs of getting the loan. At Professional Choice Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Very soon after you apply for a loan, we will give you a "Loan Estimate" of your closing costs. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between the LE and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes vary a little bit at closing.

Below you'll find a general list of closing costs. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Costs related to "originating" your loan
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Obtaining Your Credit Report
  • Interest Payment
  • Escrow Fees
  • Taxes
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance if applicable

Professional Choice Mortgage can answer questions about these closing costs. Call us at 814-861-3310.