All residential real estate transactions involves fixed costs. Sellers and buyers customarily split these closing costs, as the real estate sales contract specifies.
As indicated below, many of the closing costs result from getting your loan. Since Nationwide Home Loans is highly experienced with mortgages and closings, we can help you understand your closing costs.
Soon after you apply for a loan, we'll provide you with the "Loan Estimate" of your closing costs. The closing costs specified in the LE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between delivery of the Loan Estimate (LE) and closing. We explain LEs with buyers every day, so we'd be glad to answer the you have about closing costs.
We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Nationwide Home Loans, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Credit Report Up-front Interest Payment Escrow Fees TaxesLoan-related costs Points — A fee paid to lower your interest rate (optional) Appraisal Fee
InsuranceRecording Fees and Transfer Taxes
Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance
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