Closing Costs

"Closing Costs" are the fees that pay for various services involved in the sale of a house. Sellers and buyers negotiate these costs.

As you'll see below, many of the closing costs result from getting your loan. Since Atlantic Financial Services has extensive experience with mortgages and closings, we can help you understand your closing costs.

The Loan Estimate (Also known as the LE)

Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing cost estimate comes out of the loan officer's past experience. Please note that while our LEs are very accurate, we cannot always predict costs to the penny. We handle buyers' questions about closing costs every day at Atlantic Financial Services, so don't hesitate to ask if we can help answer your questions.

Below is a fairly generic list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

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

Atlantic Financial Services can answer questions about these closing costs. Call us: (732) 969-9300.

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