About Closing Costs

There are certain standard costs associated with closing the sale of a home. Sellers and buyers usually split these costs, as the sales contract specifies.

As the list below indicates, many of the closing costs result from getting your mortgage. At Evolution Mortgage Inc., we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimate (GFE)

Soon after you apply for a loan, we'll provide you with a "Good Faith Estimate" of your costs. We base this cost estimate on our extensive past experience. Please note that while our GFEs are very accurate, we cannot always predict your costs to the penny. We go over GFEs with buyers almost every day, so we'd be glad to answer the you have 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
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
  • Costs associated with "originating" your loan
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance

At Evolution Mortgage Inc., we answer questions about closing costs every day. Give us a call: 631-273-1188.