What are Closing Costs?

"Closing Costs" are the fees that pay for various services involved in the sale of a house. Buyers & sellers negotiate these closing costs.

As you'll see below, many of the buyer's costs cover the costs of originating the loan. At Atlantic Financial Services, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs in your "Good Faith Estimate".

The Good Faith Estimate (GFE)

Very soon after you submit your application, we'll give you a "Good Faith Estimate" of your costs. The closing costs spelled out in the Good Faith Estimate are estimated based on Atlantic Financial Services's experience with mortgage loans, but costs often vary a little bit between delivery of the GFE and closing. We go over Good Faith Estimates with buyers every day, so we are happy to answer your questions about closing costs.

We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you complete your loan application. At Atlantic Financial Services, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

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

At Atlantic Financial Services, we answer questions about closing costs every day. Give us a call at (732) 969-9300.

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