Closing Costs for Residential Real Estate Transactions

Every home sale incurs certain fixed costs. Buyers and sellers usually split these closing costs, as the real estate sales contract specifies.

As you'll see below, many of the closing costs result from getting your loan. At Abbey Mortgage, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".

Loan Estimates (LEs)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This cost estimate is based on our past experience. It's important to note that while our LEs are very accurate, we can't always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes change slightly at closing.

Below is a fairly generic list of costs for buying a home. We will always provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — lower your interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
  • Costs associated with "originating" your loan
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At Abbey Mortgage, we answer questions about closing costs every day. Call us at 3523694200.

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Abbey Mortgage

Company NMLS#: 374095

2107 SE 3rd Ave.
Ocala, FL 34471