Closing Costs for Residential Real Estate Transactions There are certain standard costs associated with closing the sale of a house. Buyers and sellers customarily split these closing costs, as the sales contract specifies. Many of the closing costs associated with buying a home are associated with getting the mortgage. Since 1st Credential Mortgage Inc has extensive experience with mortgages & closings, we can help you understand your closing costs. Loan Estimates (LEs) Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on 1st Credential Mortgage Inc's experience with mortgage loans, but costs usually change a little bit between the Loan Estimate (LE) and closing. We explain Loan Estimates with buyers every day, so we are happy to answer any questions you have about closing costs. Below is a generic list of closing costs. We will provide you with a specific list of your closing costs when we give you a Loan Estimate. Standard Closing Costs Loan-Related Costs Points — A fee paid to lower your interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Escrow Fees Various TaxesCosts associated with "originating" your loan Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance 1st Credential Mortgage Inc can help you understand closing costs. Call us: (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 * Name: * Email: Phone: Your Question Question: Submit