Closing Costs for Residential Real Estate Transactions

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"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Sellers and buyers often negotiate to decide how to split these costs.

As indicated below, many of the closing costs result from getting your mortgage. Since Mutual Security Mortgage has extensive experience with mortgages & closings, we often explain the details of closing costs.

Itemized Fee Worksheet -

Very soon after you apply for a loan, we'll give you an Itemized Fee Worksheet of your costs. The closing costs specified are estimated based on our experience with mortgage loans.  Unlike the new GFE, this will review your cash to close, total monthly payment and loan terms.

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 Mutual Security 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

• Points — A fee paid to lower your interest rate (optional)
• Appraisal Costs
• Credit Report
• Interest Payment
• Escrow Fees
• Taxes
• Loan Origination Fee

Property Taxes

• Insurance
• Recording Fees and Transfer Taxes

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood or Earthquake Insurance

Mutual Security Mortgage can help you understand closing costs. Call us: 303-931-7879.