Closing Costs for Residential Real Estate Transactions

"Closing Costs" are the fees that cover the various services involved when you sell or buy residential real estate. Buyers & sellers negotiate to determine who will pay different portions of these costs.

As indicated below, many of the buyer's closing costs cover the costs of originating the loan. Since Lopez Financial Inc has extensive experience with mortgages & closings, we are closing cost experts.

The Loan Estimate (LE)

Buyers get a "Loan 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. Please note that while our LEs are very precise, we can't always estimate your closing costs to the penny. We review LEs with buyers almost every day, so we'd be glad to answer the you have about closing costs.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed your application. At Lopez Financial Inc, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Interest Payment
  • Escrow Account
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Lopez Financial Inc can answer questions about these closing costs. Give us a call at 626.339.4445.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question