About Closing Costs

"Closing Costs" are the fees that cover various services involved when you sell or buy residential real estate. Sellers & buyers often negotiate to decide how to split these closing costs.

As indicated below, many of the costs result from getting your loan. At Evolution Mortgage Inc., we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Buyers will receive a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. It's important to note that while our GFEs are very accurate, we cannot always predict closing costs to the penny. We explain Good Faith Estimates with buyers almost every day, so we'd be glad to answer your questions about closing costs.

We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you complete your application. At Evolution Mortgage Inc., 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
  • Loan-related costs
  • Points — lower your interest rate (optional)
  • Appraisal Fee
  • Pulling Your Credit Report
  • Interest Payment
  • Escrow Account
  • Various Taxes
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Evolution Mortgage Inc. can answer questions about these closing costs. Call us at 631-273-1188.