All residential real estate sales involves certain fixed costs. Buyers and sellers almost always split these costs, as specified in the real estate sales contract.
As indicated below, many of the closing costs result from getting your mortgage loan. At Hawk Mortgage Group, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Good Faith Estimate".
Good Faith Estimates (GFEs)
Very shortly after you submit your application, we'll give you a "Good Faith Estimate" of your costs. The closing cost estimate is based on our past experience. It's important to note that while our GFEs are very accurate, we can't always predict your closing costs to the penny. We answer questions about closing costs every day at Hawk Mortgage Group, so please feel free to ask if we can help answer your questions.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you complete your application. At Hawk Mortgage Group, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Costs
- Obtaining Your Credit Report
- Up-front Interest Payment
- Escrow Account
- Loan Origination Fee
- Recording Fees & Transfer Taxes
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Quake Insurance if applicable
Hawk Mortgage Group can answer questions about these closing costs. Give us a call: (443) 619-7900.