Don't Forget Closing Costs
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Every home sale involves certain costs. Sellers and buyers customarily share these closing costs, as the real estate sales contract specifies.
Many of the closing costs associated with buying a home are associated with getting a mortgage. Since Pacific Coast Funding is highly experienced with mortgages & closings, we can help you understand your closing costs.
Good Faith Estimates (GFEs)
Buyers get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs specified in the GFE are estimated based on Pacific Coast Funding's experience with mortgage loans, but costs often vary by small amounts between delivery of the Good Faith Estimate (GFE) and closing. We field questions about closing costs every day at Pacific Coast Funding, so please feel free to contact us if you have questions.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Pacific Coast Funding, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Appraisal Costs
- Credit Report
- Up-front Interest Payment
- Escrow Fees
- Various Taxes
- Costs related to "originating" your loan
- Points — A fee paid to lower your mortgage interest rate (optional)
- Recording Fees & Transfer Taxes
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Earthquake Insurance
At Pacific Coast Funding, we answer questions about closing costs every day. Give us a call at 714 969-3112.