Don't Forget Closing Costs

"Closing Costs" are the fees that cover the various services involved in the sale of a home. Buyers and sellers often negotiate to decide how to share these costs.

As you'll see below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. At Boardwalk Mortgage, we have extensive experience in mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we cannot always predict costs to the penny. We review LEs with buyers almost every day, so we will be happy to answer your questions about closing costs.

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

Standard Closing Costs

Loan-Related Costs

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

Property Taxes

• Insurance
• Recording Fees and Transfer Taxes

Homeowners Insurance

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

Boardwalk Mortgage can help you understand closing costs. Call us at 1-800-606-2794.