About Closing Costs

"Closing Costs" are the fees that pay for various services involved when you sell or buy a home. Buyers and sellers almost always negotiate these closing costs.

As the list below indicates, many of the closing costs result from getting your mortgage. Since Stepping Stone Mortgage has extensive experience with mortgages and closings, we are closing cost experts.

The Good Faith Estimate (Also know as the GFE)

Soon after you submit your application, we'll give you a "Good Faith Estimate" of your closing costs. The closing costs enumerated in the GFE are estimated based on our experience with mortgage loans, but costs often change a little bit between delivery of the GFE and closing. We field buyers' questions about these costs every day at Stepping Stone Mortgage, so please be sure to contact us if we can help answer your 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 have completed your loan application. At Stepping Stone Mortgage, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

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

Stepping Stone Mortgage can answer questions about these closing costs. Give us a call: (541) 683-3300.

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