About Closing Costs
There are certain standard costs associated with closing the sale of a home. Buyers and sellers usually share these closing costs, as specified in the sales contract.
As indicated below, many of the costs result from getting your loan. Since Ward Kilduff Mortgage has extensive experience with closings and mortgages, we can help you understand your closing costs.
Loan Estimate (Also known as the LE)
Buyers will get a "Loan Estimate" of closing costs at 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 change by small amounts between delivery of the LE and closing. We field buyers' questions about closing costs every day at Ward Kilduff Mortgage, so please be sure to ask if you have questions.
Below is a general list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
- Loan-related costs
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Costs
- Getting Your Credit Report
- Interest Payment
- Escrow Account
- Transfer Taxes and Recording Fees
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Earthquake Insurance
At Ward Kilduff Mortgage, we answer questions about closing costs every day. Call us at (860) 658-7100.
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