About Closing Costs
"Closing Costs" are the fees which pay for the various services involved when you sell or buy a house. Buyers & sellers negotiate the payment of these closing costs.
Many of the closing costs associated with buying a home are associated with getting the mortgage. At Utah Funding, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".
Good Faith Estimates (GFEs)
Soon after you apply for a loan, we'll give you the "Good Faith Estimate" of your costs. We base this closing cost estimate on our many years of past experience. Please note that while our GFEs are very precise, we can't always estimate costs to the penny. We handle questions about closing costs every day at Utah Funding, so please be sure to contact us if you have questions.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you complete your application. At Utah Funding, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Escrow Fees
- Various Taxes
- Loan Origination Fee
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
- Appraisal Costs
- Credit Report
- Interest Payment
- Transfer Taxes & Recording Fees
- Title Insurance
- Flood / Earthquake Insurance if applicable
- Private Mortgage Insurance (PMI)
Utah Funding can help you understand closing costs. Call us: (949) 486-3777.