Don't Forget Closing Costs

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"Closing Costs" are the fees which cover the various services involved in the sale of a home. Buyers & sellers usually negotiate to decide how to split these closing costs.

As you'll see below, many of the buyer's closing costs are related to the costs of originating the loan. Since Custom Mortgage Services, Inc. has extensive experience with closings and mortgages, we are closing cost experts.

The Good Faith Estimate (GFE)

Buyers will get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the GFE are estimated based on Custom Mortgage Services, Inc.'s experience with mortgage loans, but costs often change by small amounts between the Good Faith Estimate (GFE) and closing. We answer questions about closing costs every day at Custom Mortgage Services, Inc., so don't hesitate to ask if we can help answer your questions.

We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Custom Mortgage Services, Inc., 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

• Interest Payment
• Escrow Account
• Various Taxes
• Costs related to "originating" your loan
• Points — lower your interest rate (optional)
• Appraisal Costs
• Credit Report

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

• Flood / Earthquake Insurance if applicable
• Private Mortgage Insurance (PMI)
• Title Insurance

Custom Mortgage Services, Inc. can answer questions about these closing costs. Call us: 678-992-0100.