Your Closing Costs

All residential real estate transactions involves costs. Buyers and sellers customarily share these closing costs, as specified in the sales contract.

As indicated below, many of the buyer's costs cover the costs of originating the loan. At Stepping Stone Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Very shortly after you apply for a loan, we will provide you with the "Good Faith Estimate" of your closing costs. This cost estimate is based on our past experience. It's important to note that while our GFEs are very accurate, we can't always estimate costs to the penny. We review Good Faith Estimates with buyers every day, so we will be happy to answer any questions you have about closing costs.

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

Standard Closing Costs

Loan-Related Costs
  • Interest Payment
  • Escrow Account
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

Stepping Stone Mortgage can help you understand closing costs. Give us a call: (541) 683-3300.

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