Closing Costs for Residential Real Estate Transactions

"Closing Costs" are the fees that cover various services involved in the sale of a house. Sellers and buyers usually negotiate these closing costs.

As you'll see below, many of the buyer's costs are related to the costs of getting the loan. At Sky Apply Mortgage, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Very soon after you apply for a loan, we'll provide you with a "Loan Estimate" of your costs. The closing costs specified in the LE are estimated based on our experience with mortgage loans, but costs usually change a little bit between the LE and closing. We handle buyers' questions about closing costs every day at Sky Apply Mortgage, so don't hesitate 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, very soon after you have completed 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
  • Pulling YourCredit Report
  • Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan-related costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Fee
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Sky Apply Mortgage can help you understand closing costs. Give us a call at (813) 200-7931.

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