Closing Costs

All residential real estate sales incurs certain fixed costs. Buyers and sellers usually split these closing costs, as the real estate sales contract specifies.

As the list below indicates, many of the closing costs result from getting your mortgage. Since Peerless Residential Mortgage is highly experienced with mortgages & closings, we are closing cost experts.

Understanding The Loan Estimate, previously Good Faith Estimate (GFE)

Buyers will get a Loan Estimate or formally known "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the LE/GFE are estimated based on Peerless Residential Mortgage's experience with mortgage loans, but costs often change by small amounts between delivery of the LE/GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that can vary a little bit at closing.

We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Peerless Residential Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Pulling YourCredit Report
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance if applicable

At Peerless Residential Mortgage, we answer questions about closing costs every day. Call us: (513) 319-9964.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question