Closing Costs for Home Real Estate Transactions

There are certain standard costs related to closing the sale of a house. Sellers and buyers almost always split these closing costs, as the sales contract specifies.

As the list below indicates, many of the costs result from getting your mortgage. At 1st Credential Mortgage Inc, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".

The Loan Estimate (LE)

Soon after you apply for a loan, we will provide you with a "Loan Estimate" of your closing costs. The closing costs spelled out in the LE are estimated based on 1st Credential Mortgage Inc's experience with mortgage loans, but costs usually change by small amounts between the LE and closing. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes vary a little bit at closing.

Below is a general list of closing costs. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Various Taxes
  • Loan Origination Fee
  • 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
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)

1st Credential Mortgage Inc can help you understand closing costs. Call us at (281) 778-0805.

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