Closing Costs for Residential Real Estate Transactions

"Closing Costs" are the fees which pay for various services involved when you sell or buy a home. Sellers and buyers almost always negotiate to decide how to split these closing costs.

As indicated below, many of the buyer's closing costs are related to the costs of originating the loan. Since Reliance Mortgage Service, Inc is highly experienced with mortgages and closings, we are closing cost experts.

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This cost estimate comes out of our past experience. Please note that while our LEs are very accurate, we can't always estimate costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes vary a little bit at closing.

Below you'll find a fairly general list of closing costs. We will always provide a specific list of your closing costs when we deliver your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Fee
  • Pulling Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Loan-related costs
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Reliance Mortgage Service, Inc can answer questions about these closing costs. Give us a call: 562 320-0510.

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