Closing Costs for Residential Real Estate Transactions

Certain standard costs are associated with closing the sale of a house. Sellers and buyers customarily split these closing costs, as the sales contract specifies.

Many of the closing costs associated with buying residential real estate are associated with getting a loan. Since RTC Mortgage Corporation is highly experienced with closings & mortgages, we often explain the details of closing costs.

Good Faith Estimates (GFEs)

Buyers will get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our many years of past experience. It's important to note that while our GFEs are very accurate, we can't always estimate your costs to the penny. We handle buyers' questions about closing costs every day at RTC Mortgage Corporation, so please feel free to contact us if we can help answer your questions.

We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you complete your application. At RTC Mortgage Corporation, 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
  • Getting YourCredit Report
  • Interest Payment
  • Escrow Account
  • Taxes
  • Loan Origination Fee
  • Points — lower your interest rate (optional)
  • Appraisal Fee
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance if applicable

At RTC Mortgage Corporation, we answer questions about closing costs every day. Call us: (949) 494-4701.

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