What are Closing Costs?

Certain standard costs are associated with closing the sale of a home. Buyers and sellers usually share these closing costs, as the sales contract specifies.

As indicated below, many of the buyer's closing costs cover the costs of getting the loan. At Nationwide Home Loans, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs usually change by small amounts between delivery of the LE and closing. We answer questions about these costs every day at Nationwide Home Loans, so don't hesitate to contact us if you have questions.

Below you'll find a generic list of costs for buying a home. We will provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Obtaining YourCredit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Loan-related costs
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Fee
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At Nationwide Home Loans, we answer questions about closing costs every day. Give us a call: (562) 693-5048.

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