Your Closing Costs
Certain standard costs are associated with closing the sale of a home. Buyers and sellers customarily split these closing costs, as the sales contract specifies.
As you'll see below, many of the buyer's closing costs are related to the costs of originating the loan. At Sky Apply Mortgage, we have extensive experience in mortgage lending, so we can compile a comprehensive report on mortgage-related closing costs in your "Good Faith Estimate".
Good Faith Estimates (GFEs)
Very soon after you submit your application, we will give you a "Good Faith Estimate" of your closing costs. The cost estimate comes out of our past experience. Please note that while our GFEs are very precise, we cannot always predict closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering questions and highlighting costs that can vary a little bit at the closing table.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you complete your loan application. At Sky Apply Mortgage, 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
- Up-front Interest Payment
- Escrow Account
- Various Taxes
- Loan-related costs
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Fee
- Obtaining YourCredit Report
Property Taxes
- Recording Fees and Transfer Taxes
- Insurance
Homeowners Insurance
- Title Insurance
- Flood or Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
Sky Apply Mortgage can help you understand closing costs. Call us: (813) 200-7931.