About Closing Costs
Certain standard costs are associated with closing the sale of a home. Sellers and buyers almost always split these costs, as the real estate sales contract specifies.
Many of the closing costs associated with buying a home are associated with getting a mortgage. Since Pacific Loan Brokers has extensive experience with mortgages & closings, we are closing cost experts.
Loan Estimates (LEs)
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very precise, we cannot always estimate closing costs to the penny. We go over Loan Estimates with buyers almost every day, so we'd be glad to answer your questions about closing costs.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Pacific Loan Brokers, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Up-front Interest Payment
- Escrow Fees
- Loan-related costs
- Points — lower your mortgage interest rate (optional)
- Appraisal Fee
- Credit Report
- Recording Fees and Transfer Taxes
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Quake Insurance if applicable
Pacific Loan Brokers can answer questions about these closing costs. Call us at 877-310-6200.
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