Closing Costs

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All residential real estate transactions involves fixed costs. 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 Absolute Mortgage, we have extensive experience in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Good Faith Estimate".

Good Faith Estimate (GFE)

Soon after you submit your application, we'll give you the "Good Faith Estimate" of your costs. The closing costs spelled out in the Good Faith Estimate are estimated based on Absolute Mortgage's experience with mortgage loans, but costs usually vary by small amounts between delivery of the GFE and closing. We field buyers' questions about these costs every day at Absolute Mortgage, so don't hesitate to ask if you have questions.

Below you'll find a generic list of costs for buying a home. We will provide a specific list of your closing costs when we provide your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Obtaining YourCredit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Costs associated with "originating" your loan
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
Absolute Mortgage can answer questions about these closing costs. Call us: 253-848-1255.

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