Closing Costs for Residential Real Estate Transactions

All residential real estate sales incurs certain fixed costs. Buyers and sellers almost always share these closing costs, as specified in the sales contract.

As indicated below, many of the costs result from getting your loan. Since Abbey Mortgage is highly experienced with closings & mortgages, we can help you understand your closing costs.

Loan Estimate (LE)

Very shortly after you submit your application, we will give you the "Loan Estimate" of your closing costs. The closing costs enumerated in the Loan Estimate are estimated based on Abbey Mortgage's experience with mortgage loans, but costs often change by small amounts between delivery of the Loan Estimate (LE) and closing. We go over Loan Estimates with buyers almost every day, so we are happy to answer your questions about closing costs.

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

Standard Closing Costs

Loan-Related Costs
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — These are costs you pay up-front to lower your interest rate (optional)
  • Appraisal Costs
  • Obtaining YourCredit Report
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

Abbey Mortgage can help you understand closing costs. Call us: 352-369-4200.

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