Closing Costs

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"Closing Costs" are the fees that cover various services involved when you sell or buy residential real estate. Sellers & buyers usually negotiate to determine who will pay different portions of these closing costs.

As the list below indicates, many of the costs result from getting your mortgage. At PREMIERE MORTGAGE SERVICES INC., we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs often change by small amounts between the GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and highlighting costs that sometimes vary a little bit at the closing table.

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

Standard Closing Costs

Loan-Related Costs

• Taxes
• Loan Origination Fee
• Points — A fee paid to lower your mortgage interest rate (optional)
• Appraisal Costs
• Credit Report
• Up-front Interest Payment
• Escrow Fees

Property Taxes

• Transfer Taxes & Recording Fees
• Insurance

Homeowners Insurance

• Flood / Quake Insurance
• Private Mortgage Insurance (PMI)
• Title Insurance

PREMIERE MORTGAGE SERVICES INC. can help you understand closing costs. Give us a call at 978-422-2311.