Don't Forget Closing Costs

"Closing Costs" are the fees that cover various services involved when you sell or buy residential real estate. Buyers & sellers often negotiate to determine who will pay different portions of these costs.

As indicated below, many of the costs result from getting your loan. Since Atlantic Financial Services has extensive experience with closings & mortgages, we are closing cost experts.

Good Faith Estimate (GFE)

Buyers will get a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated 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 the Good Faith Estimate (GFE) and closing. We explain Good Faith Estimates with buyers every day, so we will be 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 will be sure to let you know immediately.

Standard Closing Costs

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

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

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