Closing Costs

Certain standard costs are related to closing the sale of a house. Buyers and sellers almost always split these closing costs, as specified in the real estate sales contract.

Many of the costs associated with buying residential real estate are associated with getting the loan. Since Mortgage Max Inc has extensive experience with closings & mortgages, we often explain the details of closing costs.

The Loan Estimate (LE)

Very shortly after you submit your application, we will provide you with a "Loan Estimate" of your costs. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the LE and closing. We review Loan Estimates with buyers almost every day, so we'd be glad to answer your questions about closing costs.

Below is a fairly general list of closing costs. We will always provide you with a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

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

At Mortgage Max Inc, we answer questions about closing costs every day. Call us: 760-547-2080.