About Closing Costs

"Closing Costs" are the fees which cover the various services involved in the sale of a home. Buyers & sellers often negotiate the payment of these costs.

Many of the closing costs associated with buying a home are associated with getting a mortgage. At South County Mortgage, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of costs related to your mortgage in your "Good Faith Estimate".

The Good Faith Estimate (Also know as the GFE)

Soon after you apply for a loan, we'll give you a "Good Faith Estimate" of your costs. We base this closing cost estimate on our many years of past experience. It's important to note that while our GFEs are very precise, we can't always estimate your closing costs to the penny. We go over GFEs with buyers every day, so we'd be glad to answer the you have about closing costs.

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

Standard Closing Costs

Loan-Related Costs
  • Costs related to "originating" your loan
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At South County Mortgage, we answer questions about closing costs every day. Call us: (401) 583-4150.

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