Don't Forget Closing Costs

Every home sale incurs certain fixed costs. Buyers and sellers customarily split these costs, as specified in the real estate sales contract.

Many of the closing costs associated with buying a house are associated with getting the loan. Since 1st Credential Mortgage Inc has extensive experience with closings & mortgages, we often explain the details of closing costs.

Good Faith Estimates (GFEs)

Soon after you apply for a loan, we'll provide you with the "Good Faith Estimate" of your closing costs. The cost estimate comes out of our past experience. Please note that while our GFEs are very precise, we cannot always estimate your closing costs to the penny. We review Good Faith Estimates with buyers every day, so we'd be glad to answer your questions about closing costs.

Below is a fairly general list of closing costs. We will provide you with a specific list of your closing costs when we deliver your Good Faith Estimate.

Standard Closing Costs

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

At 1st Credential Mortgage Inc, we answer questions about closing costs every day. Give us a call at (281) 778-0805.

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