About Closing Costs

All residential real estate sales incurs certain fixed costs. Sellers and buyers almost always share these costs, as the real estate sales contract specifies.

Many of the costs associated with buying a home are associated with getting a loan. At Stepping Stone Mortgage, we are highly experienced in mortgage lending, so we can compile a comprehensive report on costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. This cost estimate is based on the loan officer's past experience. Please note that while our GFEs are very accurate, we can't always estimate your costs to the penny. We handle questions about these costs every day at Stepping Stone Mortgage, so don't hesitate to ask if we can help answer your questions.

Below is a fairly general list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we give you a Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs
  • Escrow Fees
  • Various Taxes
  • Loan Origination Fee
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Fee
  • Obtaining Your Credit Report
  • Interest Payment
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)

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

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