About Closing Costs

"Closing Costs" are the fees that cover the various services involved in the sale of a house. Buyers and sellers negotiate to decide how to split these costs.

As you'll see below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. At Southwest Funding #841, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

Loan Estimates (LEs)

Soon after you submit your application, we will give you a "Loan Estimate" of your costs. We base this cost estimate on our extensive past experience. Please note that while our LEs are very precise, we cannot always estimate costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can vary a little bit at closing.

We've provided a general list of these 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 Southwest Funding #841, 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
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Pulling Your Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Costs related to "originating" your loan
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance if applicable

At Southwest Funding #841, we answer questions about closing costs every day. Call us at (512) 291-6100.

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