Closing Costs

Certain standard costs are related to closing the sale of a house. Sellers and buyers almost always split these costs, as specified in the real estate sales contract.

As you'll see below, many of the buyer's costs cover the costs of getting the loan. Since 1st Credential Mortgage Inc has extensive experience with closings and mortgages, we often explain the details of closing costs.

Good Faith Estimate (GFE)

Soon after you submit your application, we will provide you with a "Good Faith Estimate" of your closing costs. This closing cost estimate is based on our past experience. It's important to note that while our GFEs are very precise, we cannot always estimate closing costs to the penny. We review GFEs with buyers every day, so we'd be glad to answer the you have about closing costs.

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

Standard Closing Costs

Loan-Related Costs
  • Pulling YourCredit Report
  • Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan Origination Fee
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance

1st Credential Mortgage Inc can help you understand closing costs. Give us a call: (281) 778-0805.

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