What are Closing Costs?

"Closing Costs" are the fees that cover the various services involved when you sell or buy a home. Sellers and buyers almost always negotiate the payment of these costs.

As you'll see below, many of the costs result from getting your loan. At Sky Apply Mortgage, we have extensive experience in mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Very soon after you submit your application, we'll provide you with a "Good Faith Estimate" of your costs. The closing costs specified in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs often change a little bit between delivery of the GFE and closing. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that can vary a little bit at the closing table.

Below is a fairly generic list of closing costs. We will provide you with a specific list of your closing costs when we provide your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Costs associated with "originating" your loan
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Costs
  • Getting Your Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance

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

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question