Closing Costs for Home Real Estate Transactions

Every home sale incurs costs. Buyers and sellers usually share these closing costs, as specified in the real estate sales contract.

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

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change by small amounts between delivery of the LE and closing. We explain LEs with buyers almost every day, so we will be happy to answer any questions you have about closing costs.

Below is a fairly general list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Points — These are costs you pay up-front to lower your interest rate (optional)
• Appraisal Costs
• Credit Report
• Up-front Interest Payment
• Escrow Account
• Taxes
• Loan-related costs

Property Taxes

• Insurance
• Transfer Taxes and Recording Fees

Homeowners Insurance

• Flood or Earthquake Insurance if applicable
• Private Mortgage Insurance (PMI)
• Title Insurance

ChangeMyRate.com® can answer questions about these closing costs. Call us: (562) 513-0999.