Closing Costs for Home Real Estate Transactions
There are certain standard costs associated with closing the sale of a home. Sellers and buyers customarily share these costs, as the sales contract specifies.
As you'll see below, many of the buyer's closing costs cover the costs of getting the loan. Since Coastal Mortgage Corp. has extensive experience with closings & mortgages, we are closing cost experts.
Good Faith Estimates (GFEs)
Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. This closing cost estimate comes out of our past experience. Please note that while our GFEs are very precise, we can't always estimate closing costs to the penny. We handle questions about closing costs every day at Coastal Mortgage Corp., so please be sure to contact us if we can help answer your questions.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Coastal Mortgage Corp., we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Points — lower your mortgage interest rate (optional)
- Appraisal Costs
- Pulling Your Credit Report
- Up-front Interest Payment
- Escrow Fees
- Various Taxes
- Loan Origination Fee
- Transfer Taxes and Recording Fees
- Flood or Earthquake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
Coastal Mortgage Corp. can answer questions about these closing costs. Call us at 504-866-5626.
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.