What are Closing Costs?

There are certain standard costs associated with closing the sale of a home. Buyers and sellers usually split these closing costs, as specified in the sales contract.

As the list below indicates, many of the costs result from getting your mortgage loan. At Affirm Home Loans, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

Loan Estimate (Also known as the LE)

Buyers will receive 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 Affirm Home Loans's experience with mortgage loans, but costs often vary by small amounts between the Loan Estimate (LE) and closing. We field buyers' questions about these costs every day at Affirm Home Loans, so please feel free to ask if you have questions.

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

Standard Closing Costs

Loan-Related Costs
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Fee
  • Pulling Your Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan Origination Fee
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Affirm Home Loans can help you understand closing costs. Call us: (972) 292-0448.

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