Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which cover various services involved in the sale of a house. Buyers and sellers negotiate to determine who will pay different portions of these costs.

Many of the costs associated with buying residential real estate are associated with getting the mortgage loan. At Capacity Lending, LLC, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Good Faith Estimate".

The Good Faith Estimate (GFE)

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. It's important to note that while our GFEs are very precise, we can't always estimate costs to the penny. We review Good Faith Estimates with buyers almost every day, so we will be happy to answer the you have about closing costs.

Below is a fairly general list of costs for buying a home. We will provide a specific list of your closing costs when we provide your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Costs related to "originating" your loan
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Capacity Lending, LLC can answer questions about these closing costs. Give us a call at 469-640-0400.

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