Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which pay for various services involved when you sell or buy residential real estate. Buyers and sellers often negotiate to determine who will pay different portions of these closing costs.

Many of the costs associated with buying residential real estate are associated with getting a mortgage loan. Since Professional Choice Mortgage is highly experienced with closings and mortgages, we are closing cost experts.

Loan Estimates (LEs)

Very shortly after you apply for a loan, we'll provide you with a "Loan Estimate" of your costs. This closing cost estimate is based on our past experience. It's important to note that while our LEs are very accurate, we cannot always estimate your costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes change slightly at closing.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Professional Choice Mortgage, 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
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance if applicable

Professional Choice Mortgage can answer questions about these closing costs. Call us: 8148613310.