About Closing Costs

Certain standard costs are related to closing the sale of a house. Sellers and buyers customarily share these costs, as specified in the real estate sales contract.

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

The Good Faith Estimate (Also know as the GFE)

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between delivery of the GFE and closing. We review GFEs with buyers every day, so we will be happy to answer any questions you have about closing costs.

We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your application. At Atlantic Financial Services, 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
  • Appraisal Costs
  • Getting Your Credit Report
  • Interest Payment
  • Escrow Account
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — A fee paid to lower your interest rate (optional)
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance

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

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