What are Closing Costs?

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"Closing Costs" are the fees which cover the various services involved when you sell or buy residential real estate. Buyers & sellers negotiate these closing costs.

Many of the costs associated with buying residential real estate are associated with getting a loan. Since PFS Funding is highly experienced with mortgages & closings, we are closing cost experts.

Good Faith Estimates (GFEs)

Very soon after you submit your application, we'll provide you with the "Good Faith Estimate" of your costs. The closing costs spelled out in the GFE are estimated based on PFS Funding's experience with mortgage loans, but costs often vary by small amounts between the GFE and closing. We review Good Faith Estimates with buyers every day, so we'd be glad to answer any questions you have about closing costs.

Below is a generic list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we deliver your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Interest Payment
  • Escrow Fees
  • Taxes
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)
At PFS Funding, we answer questions about closing costs every day. Give us a call: (925) 560-7644.

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