What are Closing Costs?

	Looking for mortgage advice? We will be glad to assist you! Call us at 760-415-2345. Want to get started? Apply Now.

All residential real estate transactions incurs certain costs. Buyers and sellers usually share these costs, as the sales contract specifies.

Many of the closing costs associated with buying residential real estate are associated with getting the mortgage. At San Diego Financial, we are highly experienced in mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".

The Good Faith Estimate (GFE)

Buyers will receive a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our GFEs are very precise, we can't always estimate your closing costs to the penny. We answer questions about these costs every day at San Diego Financial, so don't hesitate to contact us if you have questions.

Below is a general list of closing costs. We will provide a specific list of your closing costs when we provide your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs

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

Property Taxes

• Transfer Taxes & Recording Fees
• Insurance

Homeowners Insurance

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

San Diego Financial can help you understand closing costs. Give us a call: 760-415-2345.