What are Closing Costs?

"Closing Costs" are the fees that pay for the various services involved in the sale of a house. Buyers and sellers almost always negotiate these closing costs.

As you'll see below, many of the buyer's costs cover the costs of getting the loan. At RTC Mortgage Corporation, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Soon after you apply for a loan, we'll give you a "Good Faith Estimate" of your costs. We base this closing cost estimate on our many years of past experience. It's important to note that while our GFEs are very precise, we cannot always estimate costs to the penny. We handle buyers' questions about closing costs every day at RTC Mortgage Corporation, so please be sure to ask if you have questions.

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

Standard Closing Costs

Loan-Related Costs
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Taxes
  • Loan-related costs
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Earthquake Insurance if applicable

RTC Mortgage Corporation can help you understand closing costs. Call us: (949) 494-4701.

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