How do Closing Costs Work?

Every home sale involves fixed costs. Sellers and buyers almost always split these costs, as specified in the real estate sales contract.

As you'll see below, many of the closing costs result from getting your mortgage. Since Family Mortgage Company of Hawaii, Inc. NMLS #244497 has extensive experience with closings & mortgages, we can help you understand your closing costs.

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 extensive past experience. It's important to note that while our LEs are very accurate, we cannot always estimate costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can change slightly at closing.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your loan 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
  • Taxes
  • Costs related to "originating" your loan
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Fees
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance

At Family Mortgage Company of Hawaii, Inc. NMLS #244497, we answer questions about closing costs every day. Call us at (808) 935-0678.

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