About Closing Costs
"Closing Costs" are the fees which pay for the various services involved when you sell or buy a house. Sellers & buyers negotiate these costs.
Many of the closing costs associated with buying a house are associated with getting a mortgage loan. At Mortgage Max Inc, we are highly experienced in 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. This cost estimate is based on the loan officer's past experience. Please note that while our GFEs are very accurate, we can't always predict your costs to the penny. We field buyers' questions about closing costs every day at Mortgage Max Inc, so don't hesitate to contact us if you have questions.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you complete your application. At Mortgage Max Inc, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Loan-related costs
- Points — lower your interest rate (optional)
- Appraisal Fee
- Credit Report
- Up-front Interest Payment
- Escrow Fees
- Various Taxes
- Transfer Taxes and Recording Fees
- Title Insurance
- Flood / Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
At Mortgage Max Inc, we answer questions about closing costs every day. Give us a call at 760-547-2080.