Don't Forget Closing Costs

There are certain standard costs associated with closing the sale of a house. Buyers and sellers almost always split these closing costs, as the sales contract specifies.

As you'll see below, many of the closing costs result from getting your loan. At Selectplus Lending, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Very soon after you apply for a loan, we'll give you a "Loan Estimate" of your closing costs. The cost estimate is based on the loan officer's past experience. Please note that while our LEs are very accurate, we can't always estimate closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes vary a little bit at closing.

We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed your application. At Selectplus Lending, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
  • Loan Origination Fee
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance

Selectplus Lending can answer questions about these closing costs. Give us a call at (818)645-7035.

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