About Closing Costs

"Closing Costs" are the fees which cover the various services involved in the sale of a house. Buyers & sellers almost always negotiate to decide how to share these costs.

As indicated below, many of the costs result from getting your mortgage loan. Since Metro Mortgage is highly experienced with closings & mortgages, we often explain the details of closing costs.

Good Faith Estimate (Also know as the GFE)

Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the GFE are estimated based on our experience with mortgage loans, but costs often vary a little bit between delivery of the Good Faith Estimate (GFE) and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that can vary a little bit at the closing table.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your loan application. At Metro Mortgage, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

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

Metro Mortgage can answer questions about these closing costs. Call us: 866-300-1550.

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