Closing Costs for Residential Real Estate Transactions

Certain standard costs are related to closing the sale of a home. Sellers and buyers usually split these costs, as the sales contract specifies.

As the list below indicates, many of the costs result from getting your mortgage. At MidTowne Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Very soon after you apply for a loan, we will provide you with the "Loan Estimate" of your costs. The closing costs specified in the LE are estimated based on MidTowne Mortgage's experience with mortgage loans, but costs usually vary by small amounts between the Loan Estimate (LE) and closing. We review Loan Estimates with buyers every day, so we'd be glad to answer the you have about closing costs.

Below is a fairly general list of costs for buying a home. We will always provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

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

MidTowne Mortgage can answer questions about these closing costs. Give us a call: (478) 746-2063.

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