Closing Costs for Residential Real Estate Transactions

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Certain standard costs are related to closing the sale of a house. Buyers and sellers customarily split these costs, as the real estate sales contract specifies.

As the list below indicates, many of the closing costs result from getting your mortgage. Since FNB Town Square Mortgage has extensive experience with closings & mortgages, we can help you understand your closing costs.

Good Faith Estimates (GFEs)

Buyers get a "Good Faith Estimate" of closing costs around 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 GFEs are very accurate, we can't always estimate closing costs to the penny. We field questions about closing costs every day at FNB Town Square Mortgage, so please feel free to contact us if you have questions.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you have completed your application. At FNB Town Square Mortgage, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs

• Escrow Fees
• Taxes
• Costs associated with "originating" your loan
• Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
• Appraisal Costs
• Obtaining Your Credit Report
• Interest Payment

Property Taxes

• Transfer Taxes and Recording Fees
• Insurance

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood or Quake Insurance if applicable

FNB Town Square Mortgage can help you understand closing costs. Call us: (817) 821-5179.