What are Closing Costs?

Every home sale involves certain fixed costs. Sellers and buyers almost always share these closing costs, as the sales contract specifies.

As indicated below, many of the costs result from getting your loan. At Ward Kilduff Mortgage, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

Loan Estimates (LEs)

Very shortly after you apply for a loan, we will provide you with the "Loan Estimate" of your closing costs. 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 delivery of the Loan Estimate (LE) and closing. We explain Loan Estimates with buyers almost every day, so we'd be glad to answer the you have about closing costs.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete 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
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Costs associated with "originating" your loan
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Fee
  • Obtaining YourCredit Report
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)

Ward Kilduff Mortgage can answer questions about these closing costs. Give us a call at (860) 658-7100.

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