Don't Forget Closing Costs

"Closing Costs" are the fees which pay for the various services involved in the sale of residential real estate. Buyers & sellers negotiate these costs.

As indicated below, many of the buyer's costs are related to the costs of originating the mortgage loan. At Savers Home Loans, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs in your "Loan Estimate".

The Loan Estimate (LE)

Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on Savers Home Loans's experience with mortgage loans, but costs usually change by small amounts between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can vary a little bit at closing.

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

Standard Closing Costs

Loan-Related Costs
  • Escrow Fees
  • Taxes
  • Costs related to "originating" your loan
  • Points — lower your interest rate (optional)
  • Appraisal Fee
  • Getting Your Credit Report
  • Up-front Interest Payment
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)

At Savers Home Loans, we answer questions about closing costs every day. Call us: (800) 974-0509.