Closing Costs

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 low.

Standard Closing Costs

Loan-Related Costs

• Loan Origination Fee
• Points (optional)
• Appraisal Fee
• Credit Report
• Interest Payment
• Escrow Account

Taxes

• Property Taxes
• Transfer Taxes and Recording Fees

Insurance

• Homeowners Insurance
• Flood or Quake Insurance
• Private Mortgage Insurance (PMI)
• Title Insurance

Note:

Most Homebuilder will pay the Homebuilders will pay for the buyers title policy, or offer up 2% of the closing cost, and in many cases will pay all of the closing cost if the buyer uses the homebuilders lenders.   

Tip:  It is best for the buyer to get pre-aproved for a New Home Loan. When pre-approve indecates to the builder that the buyer has purchasing power and provides the homebuilders lender to be conpetive with the interested rate that you are already approved.