About Closing Costs

Every home sale incurs certain costs. Sellers and buyers customarily split these costs, as specified in the real estate sales contract.

Many of the closing costs associated with buying a house are associated with getting the mortgage. Since Reliance Mortgage Service, Inc has extensive experience with mortgages and closings, we are closing cost experts.

Loan Estimate (LE)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the LE are estimated based on Reliance Mortgage Service, Inc's experience with mortgage loans, but costs often vary a little bit between delivery of the LE and closing. We handle questions about these costs every day at Reliance Mortgage Service, Inc, so please feel free to contact us if you have questions.

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 have completed 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

• Appraisal Fee
• Getting Your Credit Report
• Up-front Interest Payment
• Escrow Account
• Taxes
• Costs related to "originating" your loan
• Points — These are costs you pay up-front to lower your interest rate (optional)

Property Taxes

• Insurance
• Transfer Taxes & Recording Fees

Homeowners Insurance

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

At Reliance Mortgage Service, Inc, we answer questions about closing costs every day. Give us a call at 562 320-0510.