Don't Forget Closing Costs
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All residential real estate sales involves fixed costs. Buyers and sellers almost always split these costs, as specified in the sales contract.
As indicated below, many of the closing costs result from getting your mortgage loan. At Blue Door Mortgage, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Good Faith Estimate".
The Good Faith Estimate (Also know as the GFE)
Soon after you submit your application, we'll provide you with a "Good Faith Estimate" of your costs. We base this closing cost estimate on our extensive past experience. Please note that while our GFEs are very precise, we cannot always estimate closing costs to the penny. We field buyers' questions about closing costs every day at Blue Door Mortgage, so please feel free to contact us if we can help answer your questions.
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 complete your loan application. At Blue Door Mortgage, 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
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Fee
- Getting Your Credit Report
- Up-front Interest Payment
- Escrow Fees
- Transfer Taxes and Recording Fees
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Quake Insurance
At Blue Door Mortgage, we answer questions about closing costs every day. Call us: (617) 527-BLUE(2583).