About Closing Costs

All residential real estate transactions involves certain fixed costs. Sellers and buyers usually share these closing costs, as the sales contract specifies.

As you'll see below, many of the closing costs result from getting your mortgage. At Hawk Mortgage Group, we have extensive experience in residential mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".

The Good Faith Estimate (GFE)

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs specified in the Good Faith Estimate are estimated based on Hawk Mortgage Group's experience with mortgage loans, but costs often vary a little bit between the GFE and closing. We will be glad to review the "Good Faith Estimate," answering your questions and pointing out costs that sometimes vary a little bit at the closing table.

Below you'll find a general list of closing costs. We will provide a specific list of your closing costs when we deliver your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan Origination Fee
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At Hawk Mortgage Group, we answer questions about closing costs every day. Give us a call at (443) 619-7900.

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