About Closing Costs

"Closing Costs" are the fees that cover the various services involved in the sale of a house. Sellers and buyers almost always negotiate to determine who will pay different portions of these closing costs.

Many of the closing costs associated with buying a home are associated with getting a loan. At Lopez Financial Inc, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on mortgage-related closing costs 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. The closing costs specified in the GFE are estimated based on Lopez Financial Inc's experience with mortgage loans, but costs usually change by small amounts between the GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and highlighting costs that sometimes change slightly at closing.

We've provided a general list of closing costs below, but we will provide 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
  • Taxes
  • Loan-related costs
  • Points — lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
Property Taxes
  • Insurance
  • Transfer Taxes & Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance

At Lopez Financial Inc, we answer questions about closing costs every day. Give us a call at 626.339.4445.

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