About Closing Costs

"Closing Costs" are the fees that cover various services involved in the sale of residential real estate. Sellers and buyers almost always negotiate to determine who will pay different portions of these costs.

Many of the costs associated with buying residential real estate are associated with getting the mortgage. At Affirm Home Loans, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".

Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very accurate, we can't always estimate your closing costs to the penny. We explain LEs with buyers almost every day, so we'd be glad to answer the you have about closing costs.

Below you'll find a fairly general list of closing costs. 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
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Costs associated with "originating" your loan
  • Points — A fee paid to lower your mortgage interest rate (optional)
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

At Affirm Home Loans, we answer questions about closing costs every day. Call us at (972) 292-0448.

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