About Closing Costs

"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Buyers & sellers almost always negotiate the payment of these costs.

As you'll see below, many of the buyer's costs cover the costs of originating the mortgage loan. Since Lopez Financial Inc is highly experienced with closings and mortgages, we are closing cost experts.

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we cannot always estimate your closing costs to the penny. We answer questions about these costs every day at Lopez Financial Inc, so please be sure to ask if you have questions.

Below is a fairly generic list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan Origination Fee
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Lopez Financial Inc can help you understand closing costs. Give us a call at 626.339.4445.

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