Closing Costs

"Closing Costs" are the fees that cover various services involved in the sale of a home. Sellers and buyers usually negotiate these closing costs.

As you'll see below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. At Lopez Financial Inc, we have extensive experience 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)

Buyers will get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the GFE are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the GFE and closing. We go over Good Faith Estimates 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 complete your loan 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
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — A fee paid to lower your mortgage interest rate (optional)
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Earthquake Insurance if applicable

Lopez Financial Inc can answer questions about these closing costs. Call us at 626.339.4445.

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