Closing Costs for Residential Real Estate Transactions

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"Closing Costs" are the fees which cover various services involved when you sell or buy residential real estate. Buyers and sellers almost always negotiate to decide how to share these closing costs.

As you'll see below, many of the costs result from getting your mortgage. At Dove Lending Group, Inc., we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Buyers will get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. This closing cost estimate is based on our past experience. It's important to note that while our GFEs are very precise, we cannot always predict your costs to the penny. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that can vary a little bit at closing.

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

Standard Closing Costs

Loan-Related Costs

• Points — A fee paid to lower your mortgage interest rate (optional)
• Appraisal Costs
• Pulling Your Credit Report
• Interest Payment
• Escrow Account
• Various Taxes
• Loan Origination Fee

Property Taxes

• Recording Fees and Transfer Taxes
• Insurance

Homeowners Insurance

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

At Dove Lending Group, Inc., we answer questions about closing costs every day. Call us: 877-210-6899.