What are Closing Costs?

"Closing Costs" are the fees which cover various services involved in the sale of residential real estate. Sellers and buyers almost always negotiate the payment of these costs.

Many of the costs associated with buying a home are associated with getting a loan. At Glendale Mortgage, we have extensive experience in mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

Loan Estimates (LEs)

Soon after you apply for a loan, we will give you the "Loan Estimate" of your costs. This closing cost estimate comes out of our past experience. It's important to note that while our LEs are very accurate, we cannot always predict closing costs to the penny. We field buyers' questions about closing costs every day at Glendale Mortgage, so please be sure to ask if we can help answer your questions.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Glendale Mortgage, 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
  • Escrow Account
  • Various Taxes
  • Loan Origination Fee
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Pulling Your Credit Report
  • Up-front Interest Payment
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Glendale Mortgage can answer questions about these closing costs. Give us a call at 610-853-6500.