About Closing Costs

"Closing Costs" are the fees that pay for various services involved in the sale of residential real estate. Sellers & buyers often negotiate these costs.

As you'll see below, many of the buyer's costs cover the costs of originating the mortgage loan. Since Yamini Patel has extensive experience with closings and mortgages, we are closing cost experts.

Loan Estimates (LEs)

Soon after you apply for a loan, we'll give you the "Loan Estimate" of your costs. The closing costs spelled out in the LE are estimated based on Yamini Patel's experience with mortgage loans, but costs usually change by small amounts between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes change slightly at closing.

Below you'll find a generic list of closing costs. We will provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Costs related to "originating" your loan
  • Points — lower your interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Earthquake Insurance if applicable

Yamini Patel can help you understand closing costs. Give us a call at (832) 730-2000.

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