What are Closing Costs?
"Closing Costs" are the fees that cover the various services involved in the sale of a home. Buyers & sellers usually negotiate these costs.
As you'll see below, many of the costs result from getting your loan. Since Family Mortgage Company of Hawaii, Inc. NMLS #244497 is highly experienced with closings and mortgages, we can help you understand your closing costs.
Loan Estimates (LEs)
Buyers will receive 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 accurate, we can't always estimate closing costs to the penny. We explain LEs with buyers every day, so we are happy to answer your questions about closing costs.
Below is a fairly generic list of costs for buying a home. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
- Interest Payment
- Escrow Fees
- Various Taxes
- Loan-related costs
- Points — These are costs you pay up-front to lower your interest rate (optional)
- Appraisal Fee
- Obtaining YourCredit Report
- Recording Fees & Transfer Taxes
- Flood or Earthquake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
At Family Mortgage Company of Hawaii, Inc. NMLS #244497, we answer questions about closing costs every day. Call us: (808) 935-0678.
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