About Closing Costs

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"Closing Costs" are the fees which pay for the various services involved when you sell or buy a house. Sellers & buyers negotiate the payment of these costs.

As indicated below, many of the buyer's closing costs are related to the costs of getting the loan. At Howard Financial, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimate (Also know as the GFE)

Buyers get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. This closing cost estimate comes out of our past experience. Please note that while our GFEs are very precise, we cannot always estimate your closing costs to the penny. We go over Good Faith Estimates with buyers almost every day, so we are happy to answer any questions you have about closing costs.

Below you'll find a general list of closing costs. We will provide a specific list of your closing costs when we deliver your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Obtaining YourCredit Report
  • Interest Payment
  • Escrow Fees
  • Taxes
  • Loan Origination Fee
  • Points — lower your interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance
Howard Financial can answer questions about these closing costs. Call us: (610) 889-7467.
our questions.

We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you complete your application. At Howard Financial, 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 Costs
  • Getting Your Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — lower your mortgage interest rate (optional)
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance
At Howard Financial, we answer questions about closing costs every day. Call us: (610) 889-7467.

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