What are Closing Costs?
"Closing Costs" are the fees that cover the various services involved in the sale of a house. Buyers and sellers often negotiate the payment of these closing costs.
As indicated below, many of the buyer's costs are related to the costs of originating the mortgage loan. At Family Mortgage Company of Hawaii, Inc. NMLS #244497, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".
Loan Estimates (LEs)
Very soon after you apply for a loan, we'll provide you with the "Loan Estimate" of your costs. We base this cost estimate on our many years of past experience. Please note that while our LEs are very precise, we cannot always estimate costs to the penny. We explain Loan Estimates with buyers almost every day, so we are happy to answer your questions about closing costs.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you complete your application. At Family Mortgage Company of Hawaii, Inc. NMLS #244497, 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
- Points — A fee paid to lower your interest rate (optional)
- Appraisal Costs
- Obtaining Your Credit Report
- Interest Payment
- Escrow Fees
- Taxes
- Loan Origination Fee
Property Taxes
- Transfer Taxes & Recording Fees
- Insurance
Homeowners Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Earthquake Insurance
Family Mortgage Company of Hawaii, Inc. NMLS #244497 can answer questions about these closing costs. Call us: (808) 935-0678.