About Closing Costs
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"Closing Costs" are the fees that cover the various services involved in the sale of residential real estate. Buyers & sellers negotiate these closing costs.
Many of the closing costs associated with buying a home are associated with getting a mortgage. At Kota Realty & Mortgage Services, Inc, we are highly experienced in mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Good Faith Estimate".
Good Faith Estimates (GFEs)
Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs often change by small amounts between delivery of the Good Faith Estimate (GFE) and closing. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that can vary a little bit at the closing table.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Kota Realty & Mortgage Services, Inc, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Loan-related costs
- Points — lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
- Transfer Taxes and Recording Fees
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Quake Insurance
At Sure Fund Mortgage, we answer questions about closing costs every day. Call us at (214) 317-4272.