What are Closing Costs?

"Closing Costs" are the fees that cover the various services involved when you sell or buy a home. Sellers & buyers often negotiate to determine who will pay different portions of these costs.

As you'll see below, many of the buyer's costs cover the costs of originating the mortgage loan. Since Trustin Mortgage, LLC is highly experienced with closings & mortgages, we are closing cost experts.

Good Faith Estimates (GFEs)

Very soon after you submit your application, we will provide you with the "Good Faith Estimate" of your costs. The cost estimate is based on our past experience. It's important to note that while our GFEs are very accurate, we cannot always predict your closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and pointing out costs that sometimes vary a little bit at closing.

We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your loan application. At Trustin Mortgage, LLC, 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
  • Loan Origination Fee
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Various Taxes
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance if applicable

At Trustin Mortgage, LLC, we answer questions about closing costs every day. Call us at (302) 765-8089.

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