Don't Forget Closing Costs

Every home sale incurs certain fixed costs. Sellers and buyers usually split these costs, as the sales contract specifies.

Many of the closing costs associated with buying a home are associated with getting the mortgage. Since F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) is highly experienced with closings and mortgages, we can help you understand your closing costs.

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs often vary by small amounts between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that can vary a little bit at the closing table.

Below you'll find a fairly generic list of costs for buying residential real estate. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Taxes
  • Costs related to "originating" your loan
  • Points — lower your interest rate (optional)
  • Appraisal Fee
  • Obtaining Your Credit Report
  • Interest Payment
  • Escrow Fees
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) can answer questions about these closing costs. Give us a call: 214-300-8756.