About Closing Costs

"Closing Costs" are the fees which pay for various services involved in the sale of a house. Buyers and sellers often negotiate to decide how to split these costs.

Many of the closing costs associated with buying residential real estate are associated with getting a loan. At Family Mortgage Company of Hawaii, Inc. NMLS #244497, we have extensive experience in residential mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Buyers will receive a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our GFEs are very precise, we cannot always estimate your costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that sometimes change slightly at closing.

Below is a fairly general list of costs for buying residential real estate. We will provide a specific list of your closing costs when we give you a Good Faith Estimate.

Standard Closing Costs

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

Family Mortgage Company of Hawaii, Inc. NMLS #244497 can help you understand closing costs. Give us a call at (808) 935-0678.

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