What are Closing Costs?

"Closing Costs" are the fees which cover the various services involved in the sale of a house. Sellers & buyers almost always negotiate the payment of these closing costs.

As indicated below, many of the costs result from getting your loan. At Ward Kilduff 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 Estimates (GFEs)

Very soon after you submit your application, we'll give you the "Good Faith Estimate" of your costs. The cost estimate is based on the loan officer's past experience. Please note that while our GFEs are very accurate, we cannot always estimate costs to the penny. We handle buyers' questions about these costs every day at Ward Kilduff Mortgage, so please feel free to ask if you have questions.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your application. At Ward Kilduff Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Interest Payment
  • Escrow Fees
  • Taxes
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Title Insurance
  • Flood / Quake Insurance
  • Private Mortgage Insurance (PMI)

At Ward Kilduff Mortgage, we answer questions about closing costs every day. Call us: (860) 658-7100.

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