Closing Costs for Residential Real Estate Transactions
There are certain standard costs associated with closing the sale of a home. Sellers and buyers usually share these closing costs, as the real estate sales contract specifies.
Many of the costs associated with buying residential real estate are associated with getting a mortgage loan. At Augusta Mortgage Solutions, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Loan Estimates (LEs)
Soon after you submit your application, we will give you the "Loan Estimate" of your closing costs. The closing costs enumerated in the Loan Estimate are estimated based on Augusta Mortgage Solutions's experience with mortgage loans, but costs usually vary a little bit between the LE and closing. We field buyers' questions about closing costs every day at Augusta Mortgage Solutions, so don't hesitate to contact us if we can help answer your questions.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you complete your application. At Augusta Mortgage Solutions, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Loan-Related Costs
- Up-front Interest Payment
- Escrow Fees
- Various Taxes
- Loan Origination Fee
- Points — A fee paid to lower your interest rate (optional)
- Appraisal Costs
- Getting YourCredit Report
Property Taxes
- Insurance
- Recording Fees & Transfer Taxes
Homeowners Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Earthquake Insurance if applicable
Augusta Mortgage Solutions can answer questions about these closing costs. Give us a call: 7068605514.