Don't Forget Closing Costs

"Closing Costs" are the fees that pay for the various services involved when you sell or buy a home. Sellers and buyers often negotiate to decide how to split these costs.

Many of the costs associated with buying residential real estate are associated with getting a loan. At Creative Home Loans, we have extensive experience in mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our LEs are very precise, we cannot always predict costs to the penny. We go over Loan Estimates with buyers every day, so we'd be glad to answer your questions 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 Creative Home Loans, 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
  • Loan Origination Fee
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance

Creative Home Loans can answer questions about these closing costs. Call us at 6029531700.

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