Closing Costs

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All residential real estate transactions involves fixed costs. Sellers and buyers customarily share these costs, as the real estate sales contract specifies.

As you'll see below, many of the buyer's closing costs are related to the costs of getting the loan. Since First Funding has extensive experience with closings and mortgages, we can help you understand your closing costs.

The Good Faith Estimate (Also know as the GFE)

Very soon after you apply for a loan, we will give you the "Good Faith Estimate" of your costs. The closing costs spelled out in the Good Faith Estimate are estimated based on First Funding's experience with mortgage loans, but costs usually change a little bit between the GFE and closing. We review Good Faith Estimates with buyers every day, so we will be happy to answer the you have about closing costs.

We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At First Funding, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Escrow Fees
  • Taxes
  • Costs related to "originating" your loan
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Up-front Interest Payment
Property Taxes
  • Insurance
  • Transfer Taxes and Recording Fees
Homeowners Insurance
  • Flood or Quake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance
First Funding can help you understand closing costs. Give us a call: (408) 540-0200.

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