About Closing Costs

All residential real estate sales involve certain fixed costs. Buyers usually incur these costs, as the real estate sales contract specifies, however, depending on State law the seller will have to cover some of the closing costs. “Closing Costs” are the fees which pay for various services involved in the sale of a house. These fees are either paid directly or indirectly by increasing the loan amount or charging a higher interest rate.

Many of the costs associated with buying residential real estate are associated with getting the mortgage loan. Since Financial Capital Funding Group, LLC is highly experienced with closings & mortgages, we can help you understand your closing costs.

The Loan Estimate

Buyers will get a Loan Estimate by three days from when the loan application is submitted to the lender. The Loan Estimate gives you information like closing costs, taxes, insurance, estimated interest rate monthly payment and more. Getting an estimate doesn’t mean you’ve been approved, rather it’s the first step toward securing your loan.

We handle buyers’ questions about closing costs every day at Financial Capital Funding Group, LLC, so don’t hesitate to ask if you have questions.

We’ve provided a general list of closing costs below, but we’ll give you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Financial Capital Funding Group, LLC, 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

  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Fee
  • Getting Your Credit Report
  • Interest Payment
  • Escrow Fees
  • Loan-related costs

Property Taxes

  • Recording Fees & Transfer Taxes
  • Insurance

Homeowners Insurance

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