Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees that cover various services involved when you sell or buy residential real estate. Buyers & sellers almost always negotiate the payment of these closing costs.

As you'll see below, many of the buyer's closing costs cover the costs of originating the mortgage loan. At Reliance Mortgage Service, Inc, we are highly experienced in mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".

Loan Estimate (LE)

Soon after you submit your application, we will provide you with a "Loan Estimate" of your costs. The cost estimate comes out of our past experience. It's important to note that while our LEs are very precise, we can't always estimate your costs to the penny. We go over Loan Estimates with buyers almost every day, so we will be happy to answer any questions you have about closing costs.

We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you complete your application. At Reliance Mortgage Service, 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
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Costs associated with "originating" your loan
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Earthquake Insurance if applicable

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

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