Your Closing Costs

"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Sellers & buyers almost always negotiate the payment of these closing costs.

Many of the costs associated with buying a home are associated with getting the loan. Since Stepping Stone Mortgage has extensive experience with mortgages & closings, we are closing cost experts.

The Good Faith Estimate (GFE)

Very soon after you apply for a loan, we'll provide you with a "Good Faith Estimate" of your costs. This closing cost estimate is based on the loan officer's past experience. It's important to note that while our GFEs are very accurate, we cannot always predict your closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and pointing out costs that sometimes change slightly at the closing table.

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

Standard Closing Costs

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

At Stepping Stone Mortgage, we answer questions about closing costs every day. Give us a call at (541) 683-3300.

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