What are Closing Costs?

	Shopping for a mortgage? We'd be thrilled to answer your questions about our many mortgage solutions! Call us at -. Want to get started? Apply Here.

"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Buyers & sellers usually negotiate to determine who will pay different portions of these closing costs.

As indicated below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. Since Sunrise Mortgage Group has extensive experience with mortgages & closings, we are closing cost experts.

The Good Faith Estimate (Also know as the GFE)

Very soon after you apply for a loan, we'll provide you with the "Good Faith Estimate" of your closing costs. The closing costs spelled out in the Good Faith Estimate are estimated based on Sunrise Mortgage Group's experience with mortgage loans, but costs usually change a little bit between the GFE and closing. We review GFEs with buyers almost every day, so we are happy to answer any questions you have about closing costs.

Below you'll find a fairly general list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we give you a Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs

• Escrow Fees
• Taxes
• Loan-related costs
• Points — A fee paid to lower your mortgage interest rate (optional)
• Appraisal Fee
• Credit Report
• Interest Payment

Property Taxes

• Insurance
• Recording Fees and Transfer Taxes

Homeowners Insurance

• Title Insurance
• Flood or Quake Insurance if applicable
• Private Mortgage Insurance (PMI)

Sunrise Mortgage Group can help you understand closing costs. Give us a call: -.