Don't Forget Closing Costs

There are certain standard costs associated with closing the sale of a house. Sellers and buyers customarily split these closing costs, as the sales contract specifies.

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

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. The cost estimate is based on our past experience. Please note that while our GFEs are very precise, we can't always predict closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and pointing out costs that can change slightly at the closing table.

Below is a fairly general list of closing costs. We will always provide a specific list of your closing costs when we give you a Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance if applicable

Power Purchase Mortgage can help you understand closing costs. Call us at (877) 226-8191.

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