About Closing Costs

"Closing Costs" are the fees which cover various services involved when you sell or buy a home. Buyers and sellers negotiate these closing costs.

As you'll see below, many of the buyer's costs cover the costs of originating the loan. At Family Mortgage Company of Hawaii, Inc. NMLS #244497, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we can't always estimate your costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes change slightly at the closing table.

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 have completed 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

• Escrow Account
• Taxes
• Loan Origination Fee
• Points — These are costs you pay up-front to lower your interest rate (optional)
• Appraisal Costs
• Credit Report
• Interest Payment

Property Taxes

• Insurance
• Recording Fees and Transfer Taxes

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood or Quake Insurance

Family Mortgage Company of Hawaii, Inc. NMLS #244497 can answer questions about these closing costs. Give us a call: (808) 935-0678.