What are Closing Costs?

"Closing Costs" are the fees which cover various services involved when you sell or buy a house. Sellers & buyers often negotiate these closing costs.

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

The Good Faith Estimate (Also know as the GFE)

Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. This closing cost estimate is based on our past experience. It's important to note that while our GFEs are very precise, we can't always predict your costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and pointing out costs that sometimes change slightly at the closing table.

We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed 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
  • Taxes
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Atlantic Financial Services can help you understand closing costs. Give us a call at (732) 969-9300.

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