Don't Forget Closing Costs

Every home sale incurs certain fixed costs. Buyers and sellers customarily share these costs, as specified in the sales contract.

As indicated below, many of the buyer's costs cover the costs of originating the mortgage loan. At Boardwalk Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between delivery of the LE and closing. We review LEs with buyers every day, so we are happy to answer your questions about closing costs.

Below is a fairly general list of costs for buying a home. 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 Fee
• Obtaining Your Credit Report
• Up-front Interest Payment
• Escrow Account
• Various Taxes
• Loan-related costs

Property Taxes

• Transfer Taxes and Recording Fees
• Insurance

Homeowners Insurance

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

Boardwalk Mortgage can answer questions about these closing costs. Give us a call at 1-800-606-2794.