Don't Forget Closing Costs

"Closing Costs" are the fees which cover the various services involved in the sale of a house. Sellers & buyers usually negotiate these costs.

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

The Loan Estimate (LE)

Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This cost estimate comes out of our past experience. It's important to note that while our LEs are very accurate, we cannot always estimate your closing costs to the penny. We go over Loan Estimates with buyers every day, so we'd be glad to answer any questions you have about closing costs.

We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you have completed your application. At Savers Home Loans, 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
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Loan Origination Fee
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Fee
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance if applicable

Savers Home Loans can answer questions about these closing costs. Call us at (800) 974-0509.