Don't Forget Closing Costs
All residential real estate transactions incurs fixed costs. Buyers and sellers usually share these closing costs, as specified in the sales contract.
As indicated below, many of the buyer's closing costs are related to the costs of originating the loan. Since Family Mortgage Company of Hawaii, Inc. NMLS #244497 has extensive experience with closings & mortgages, we are closing cost experts.
Loan Estimates (LEs)
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. Please note that while our LEs are very precise, we can't always estimate closing costs to the penny. We review Loan Estimates with buyers almost every day, so we will be happy to answer your questions about closing costs.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Family Mortgage Company of Hawaii, Inc. NMLS #244497, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Loan-Related Costs
- Escrow Fees
- Various Taxes
- Loan Origination Fee
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
- Appraisal Costs
- Getting Your Credit Report
- Up-front Interest Payment
Property Taxes
- Recording Fees & Transfer Taxes
- Insurance
Homeowners Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood / Quake Insurance if applicable
Family Mortgage Company of Hawaii, Inc. NMLS #244497 can answer questions about these closing costs. Call us: (808) 935-0678.