How do Closing Costs Work?

"Closing Costs" are the fees which cover various services involved in the sale of a home. Buyers and sellers negotiate the payment of these costs.

As you'll see below, many of the costs result from getting your mortgage. At Nationwide Home Loans, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".

The Loan Estimate (LE)

Very soon after you submit your application, we'll provide you with the "Loan Estimate" of your costs. This closing cost estimate is based on our past experience. It's important to note that while our LEs are very precise, we can't always estimate your costs to the penny. We field questions about closing costs every day at Nationwide Home Loans, so please feel free to ask if we can help answer your questions.

Below is a general 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
  • Appraisal Costs
  • Credit Report
  • Interest Payment
  • Escrow Fees
  • Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Nationwide Home Loans can answer questions about these closing costs. Call us at 5626935048.

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Nationwide Home Loans

NMLS #238531| CA BRE #01017101

16211 Whittier Blvd.
Whittier, CA 90603