What are Closing Costs?

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

As indicated below, many of the buyer's closing costs cover the costs of getting the loan. At All Size Loans, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Good Faith Estimate".

The Good Faith Estimate (Also know as the GFE)

Soon after you submit your application, we will give you a "Good Faith Estimate" of your costs. The closing costs specified in the GFE are estimated based on our experience with mortgage loans, but costs often vary by small amounts between the Good Faith Estimate (GFE) and closing. We field questions about closing costs every day at All Size Loans, so please feel free to ask if we can help answer your questions.

We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you complete your application. At All Size Loans, 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

• Costs associated with "originating" your loan
• Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
• Appraisal Fee
• Getting Your Credit Report
• Interest Payment
• Escrow Fees
• Taxes

Property Taxes

• Recording Fees and Transfer Taxes
• Insurance

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood / Earthquake Insurance if applicable

At All Size Loans, we answer questions about closing costs every day. Call us: (714) 457-5686.