Closing Costs for Home Real Estate Transactions

There are certain standard costs associated with closing the sale of a home. Sellers and buyers almost always share these costs, as specified in the sales contract.

As the list below indicates, many of the costs result from getting your mortgage. At Reliance Mortgage Service, Inc, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".

The Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on Reliance Mortgage Service, Inc's experience with mortgage loans, but costs often change by small amounts between the Loan Estimate (LE) and closing. We answer buyers' questions about these costs every day at Reliance Mortgage Service, Inc, so please be sure to ask 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 loan 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
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Loan Origination Fee
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Fee
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance

Reliance Mortgage Service, Inc can answer questions about these closing costs. Call us at 5623200510.

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Reliance Mortgage Service, Inc

NMLS# 254859 DRE Lic # 0019139