Closing Costs for Residential Real Estate Transactions

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"Closing Costs" are the fees that cover various services involved in the sale of residential real estate. Sellers & buyers almost always 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 Twenty First Century Mortgage Services, Inc. is highly experienced with mortgages & closings, we are closing cost experts.

Good Faith Estimate (GFE)

Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. Please note that while our GFEs are very precise, we can't always estimate costs to the penny. We field questions about these costs every day at Twenty First Century Mortgage Services, Inc. , so don't hesitate to contact us if you have questions.

Below is a fairly general list of costs for buying a home. We will always provide you with a specific list of your closing costs when we give you a Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Escrow Fees
  • Various Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Interest Payment
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance
Twenty First Century Mortgage Services, Inc. can answer questions about these closing costs. Give us a call: 727-392-4227.

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