What are Closing Costs?

"Closing Costs" are the fees which pay for the various services involved in the sale of residential real estate. Sellers & buyers almost always negotiate these costs.

As indicated below, many of the buyer's closing costs are related to the costs of getting the loan. At Curtis Mortgage LLC, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs in your "Loan Estimate".

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 spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change by small amounts between the Loan Estimate (LE) and closing. We go over LEs with buyers almost every day, so we will be happy to answer any questions you have about closing costs.

We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your 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

Loan-Related Costs

• Escrow Account
• Taxes
• Loan-related costs
• Points — lower your mortgage interest rate (optional)
• Appraisal Costs
• Obtaining Your Credit Report
• Up-front Interest Payment

Property Taxes

• Insurance
• Transfer Taxes & Recording Fees

Homeowners Insurance

• Flood or Earthquake Insurance
• Private Mortgage Insurance (PMI)
• Title Insurance

Curtis Mortgage LLC can answer questions about these closing costs. Give us a call at 610-565-3600.