What are Closing Costs?
"Closing Costs" are the fees that cover the various services involved in the sale of residential real estate. Buyers & sellers negotiate the payment of these closing costs.
As the list below indicates, many of the costs result from getting your mortgage loan. At Family Mortgage Company of Hawaii, Inc. NMLS #244497, we are highly experienced in mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Loan Estimate (LE)
Soon after you apply for a loan, we'll give you the "Loan Estimate" of your closing costs. The closing costs spelled out in the Loan Estimate are estimated based on Family Mortgage Company of Hawaii, Inc. NMLS #244497's experience with mortgage loans, but costs usually vary by small amounts between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can vary a little bit at the closing table.
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 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
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
- Appraisal Costs
- Credit Report
- Interest Payment
- Escrow Account
- Various Taxes
- Loan Origination Fee
Property Taxes
- Recording Fees & Transfer Taxes
- Insurance
Homeowners Insurance
- Title Insurance
- Flood or Quake Insurance if applicable
- Private Mortgage Insurance (PMI)
Family Mortgage Company of Hawaii, Inc. NMLS #244497 can help you understand closing costs. Call us: (808) 935-0678.