About Closing Costs

Certain standard costs are related to closing the sale of a house. Sellers and buyers almost always share these closing costs, as the real estate sales contract specifies.

As you'll see below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. Since Abbey Mortgage is highly experienced with closings & mortgages, we often explain the details of closing costs.

Loan Estimate (Also known as the LE)

Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we cannot always estimate your costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes vary a little bit at the closing table.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Abbey Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Loan-related costs
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Interest Payment
  • Escrow Fees
  • Various Taxes
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Earthquake Insurance if applicable

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

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