Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which pay for the various services involved in the sale of a house. Sellers and buyers usually negotiate the payment of these costs.

As indicated below, many of the closing costs result from getting your mortgage. At Hawk Mortgage Group, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs in your "Good Faith Estimate".

The Good Faith Estimate (GFE)

Soon after you apply for a loan, we will provide you with a "Good Faith Estimate" of your closing costs. We base this closing cost estimate on our many years of past experience. It's important to note that while our GFEs are very accurate, we can't always predict costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that can change slightly at the closing table.

Below you'll find a fairly generic list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we deliver your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Fees
  • Taxes
  • Loan-related costs
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)

Hawk Mortgage Group can help you understand closing costs. Give us a call: (443) 619-7900.

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