Don't Forget Closing Costs

HENRY MUNOZ LOAN OFFICER & SOUTH BAY EQUITY LENDING can answer questions about these closing costs. Give me a call at 310-975-9739

Certain standard costs are related to closing the sale of a home. Buyers almost always incur these closing costs, as the sales contract specifies, however, depending on the contract the seller may be required to pay some of the closing costs. "Closing Costs" are the fees that cover various services involved when you sell or buy residential real estate. These fees can be paid out of pocket or indirectly by increasing the loan amount or charging a higher interest rate.

As you'll see below, many of the closing costs result from getting your mortgage loan. At HENRY MUNOZ LOAN OFFICER & SOUTH BAY EQUITY LENDING, we have extensive experience in mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your estimate.

The Loan Estimate

Buyers will get a Loan Estimate three days from when the loan application is submitted to the lender. The Loan Estimate lays out information like estimated interest rates, payments and fees, closing costs and more. Getting an estimate doesn't mean you've been approved, but it's the first step toward securing your loan.

We explain estimates with buyers every day, so we are happy 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 HENRY MUNOZ LOAN OFFICER & SOUTH BAY EQUITY LENDING, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Costs related to "originating" your loan
  • Points — lower your interest rate (optional)
  • Appraisal Fee
  • Pulling Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance
Are you looking for a mortgage loan? We will be glad to help! Give us a call today at 310-975-9739. Ready to get started? Apply Now.