About Closing Costs

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"Closing Costs" are the fees that pay for various services involved when you sell or buy a home. Sellers and buyers negotiate to decide how to split these closing costs.

As indicated below, many of the costs result from getting your mortgage. Since R&R Mortgage has extensive experience with closings & mortgages, we are closing cost experts.

The Good Faith Estimate (Also know as the GFE)

Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. This closing cost estimate is based on our past experience. Please note that while our GFEs are very accurate, we cannot always estimate closing costs to the penny. We go over Good Faith Estimates with buyers every day, so we are happy to answer your questions about closing costs.

Below is a general list of closing costs. We will always provide you with a specific list of your closing costs when we provide your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Appraisal Costs
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
  • Loan-related costs
  • Points — lower your mortgage interest rate (optional)
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Flood / Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At R&R Mortgage, we answer questions about closing costs every day. Call us: (916) 597-2858.