Buyers Closing Costs

There are certain typical expenses associated with closing the sale of a home. These expenses are determined by many factors.  Lenders fees may vary with each lender.  Buyers and sellers negotiate buyers' closing expenses as spelled out in the sales contract.  It is normal in our market for sellers to pay a portion or all of buyers' closing expenses if the purchase price is equal to the list price or the seller is eager to sell. 

Good Faith Estimate

Buyers will receive a "Good Faith Estimate" (also called a GFE) of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. I will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates I believe to be low. There may be some fees that I will have a better handle on the exact amount rather than a safe and higher amount estimated by a lender to safely cover them.  The chart below will show some items included in the GFE but are not all that may be included.  We can further detail those at our first meeting to be sure that you are prepared and ready to proceed to look at homes.

Buyers Typical Closing Costs

Loan-Related Costs

  • Loan Origination Fee
  • Points (optional and not typical)
  • Appraisal Fee
  • Credit Report
  • Interim Interest Payment
  • Escrow Account - for Taxes and Insurance


  • Property Taxes
  • Recording Fees


  • Homeowners Insurance
  • Flood Insurance
  • Private Mortgage Insurance (PMI) if required
  • Title Insurance


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