Closing Costs for Residential Real Estate Transactions

Certain standard costs are related to closing the sale of a house. Buyers and sellers almost always share these closing costs, as specified in the sales contract.

Many of the closing costs associated with buying a house are associated with getting the mortgage. At Atlantic Financial Services, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. It's important to note that while our LEs are very accurate, we cannot always estimate your closing costs to the penny. We handle questions about these costs every day at Atlantic Financial Services, so don't hesitate to contact us if you have questions.

We've provided a general list of closing costs below, but we will give 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
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Fee
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)

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

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