Closing Costs

There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract.

Your Kay's team member will walk you through the closing costs, answering any questions you may have explaining which costs are decreed by law to be yours and which are negotiable.

Good Faith Estimate

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's professional experience and you should be sure to understand all included closing costs.  Your home is the largest purchase of your life, so it is always a good idea to shop around for interest rates and various lender charges that will effect your bottom line.    We  will be glad to review the "Good Faith Estimate," answering questions and highlighting any missing costs as per the contract. 

Standard Closing Costs

Loan-Related Costs

  • Loan Origination Fee
  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

Taxes

  • Property Taxes
  • Transfer Taxes and Recording Fees

Insurance

  • Homeowners Insurance
  • Flood Insurance (If in a Flood Zone) 
  • Private Mortgage Insurance (PMI)
  • Title Insurance