Closing Costs

There are certain standard costs associated with closing the sale of a house.  These costs/fees are split between the buyer and the seller, as spelled out in the sales contract.

As we negotiate the sales contract for you, we will not only work to try and get the sales price and terms you want, we will also work to try and reduce the amount of closing costs for which you will be responsible.

We will walk you through the closing costs, answering any questions you may have and explaining which costs are decreed by law to be your responsibility and those which are negotiable.

Good Faith Estimate

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the Lender of your choice.  The estimate is based on that loan officer's past experience and may not include all the closing costs.  We will be glad to review the "Good Faith Estimate," with you and answer any questions you may have.

However, if you apply for your loan through Aiello & Associates, we will give you a detailed Good Faith Estimate immediately upon pre-qualifying you.

Standard Closing Costs

Loan related costs:

  • Loan Origination Fee
  • Points (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Account

Taxes:

  • Property Taxes
  • Transfer Taxes
  • Recording Fees

Insurance:

  • Homeowners Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance(PMI)
  • Title Insurance

 


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