Closing Costs

There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract.

I will work to limit the number of closing costs for which you will be responsible. and I will walk you through the closing costs, answering any questions you may have explaining which costs are decreed by law to be yours and which are negotiable.

Good Faith Estimate

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. I will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates I believe to be the low or high end.

Standard Closing Costs

Loan-Related Costs

  • Points (optional to lower rate)
  • Appraisal Fee ($200 to $450)
  • Credit Report ($10 to $15)
  • Interest Payment
  • Escrow Account

Taxes

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance

  • Homeowners Insurance
  • Title Insurance

 


Marion Mortgage, LLC 14637 Lee Highway Suite 103 Centreville, Virginia 20121
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