What are Closing Costs?

Certain standard costs are related to closing the sale of a house. Sellers and buyers customarily share these costs, as the real estate sales contract specifies.

As indicated below, many of the buyer's closing costs are related to the costs of getting the mortgage loan. At Sublime Financial, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".

Loan Estimate (Also known as the LE)

Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on Sublime Financial's experience with mortgage loans, but costs usually vary by small amounts between delivery of the LE and closing. We review Loan Estimates with buyers every day, so we'd be glad to answer the you have about closing costs.

We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you complete your application. At Sublime Financial, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — lower your interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Sublime Financial can help you understand closing costs. Give us a call at 9722920448.

Looking to Buy?

Are you looking to buy a house? Let us help you. Just fill out as much of the information below that you want and we'll get right back to you, with no obligation to you. We guarantee your privacy.

Your Information
Some Details