How do Closing Costs Work?
"Closing Costs" are the fees which pay for various services involved when you sell or buy a house. Sellers and buyers negotiate these costs.
As indicated below, many of the buyer's closing costs are related to the costs of getting the loan. Since Curtis Mortgage LLC is highly experienced with mortgages & closings, we are closing cost experts.
Good Faith Estimates (GFEs)
Very shortly after you submit your application, we'll give you the "Good Faith Estimate" of your costs. The closing costs enumerated in the GFE are estimated based on Curtis Mortgage LLC's experience with mortgage loans, but costs usually change by small amounts between delivery of the Good Faith Estimate (GFE) and closing. We answer buyers' questions about closing costs every day at Curtis Mortgage LLC, so don't hesitate to ask if we can help answer your questions.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Curtis Mortgage LLC, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Escrow Fees
- Loan Origination Fee
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Costs
- Credit Report
- Up-front Interest Payment
- Recording Fees and Transfer Taxes
- Title Insurance
- Flood / Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
Curtis Mortgage LLC can help you understand closing costs. Give us a call at 610-565-3600.