About Closing Costs

Every home sale incurs certain costs. Buyers and sellers customarily split these costs, as specified in the sales contract.

As indicated below, many of the buyer's closing costs are related to the costs of getting the mortgage loan. At Abbey Mortgage, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".

Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. This closing cost estimate is based on our past experience. Please note that while our LEs are very accurate, we cannot always predict your closing costs to the penny. We explain LEs with buyers every day, so we'd be glad to answer the you have about closing costs.

Below you'll find a fairly general list of closing costs. We will always provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Costs related to "originating" your loan
  • Points — lower your interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Fees
  • Various Taxes
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood / Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Abbey Mortgage can answer questions about these closing costs. Give us a call: 352-369-4200.

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