About Closing Costs
"Closing Costs" are the fees which pay for various services involved when you sell or buy a home. Sellers & buyers almost always negotiate the payment of these closing costs.
Many of the closing costs associated with buying a house are associated with getting the mortgage. At Smith-Craine Real Estate Financing, we are highly experienced in mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".
Good Faith Estimates (GFEs)
Very soon after you submit your application, we'll give you the "Good Faith Estimate" of your closing costs. The cost estimate is based on the loan officer's past experience. Please note that while our GFEs are very accurate, we can't always estimate closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering questions and highlighting costs that can vary a little bit at the closing table.
Below you'll find a general list of closing costs. We will always provide a specific list of your closing costs when we provide your Good Faith Estimate.
Standard Closing Costs
- Credit Report
- Up-front Interest Payment
- Escrow Account
- Costs related to "originating" your loan
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Fee
- Transfer Taxes & Recording Fees
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Earthquake Insurance
Smith-Craine Real Estate Financing can help you understand closing costs. Call us at (415) 406-2330.