Your Closing Costs

"Closing Costs" are the fees that pay for various services involved when you sell or buy a house. Buyers & sellers usually negotiate to decide how to split these costs.

As you'll see below, many of the costs result from getting your loan. At Reliance Mortgage Service, Inc, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This cost estimate is based on our past experience. It's important to note that while our LEs are very accurate, we can't always predict your closing costs to the penny. We go over LEs with buyers almost every day, so we'd be glad to answer the you have about closing costs.

We've provided a general list of closing costs below, but we'll 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'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Getting YourCredit Report
  • Up-front Interest Payment
  • Escrow Account
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — lower your interest rate (optional)
  • Appraisal Costs
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Reliance Mortgage Service, Inc can answer questions about these closing costs. Give us a call: 5623200510.

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Reliance Mortgage Service, Inc

NMLS# 254859 DRE Lic # 0019139