Your Closing Costs

"Closing Costs" are the fees that cover various services involved when you sell or buy residential real estate. Buyers and sellers almost always negotiate the payment of these costs.

As indicated below, many of the costs result from getting your loan. Since RTC Mortgage Corporation has extensive experience with closings & mortgages, we often explain the details of closing costs.

Good Faith Estimate (Also know as the GFE)

Buyers will receive a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. This closing cost estimate comes out of the loan officer's past experience. Please note that while our GFEs are very accurate, we can't always estimate your costs to the penny. We review Good Faith Estimates with buyers almost every day, so we will be happy to answer your questions 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, soon after you complete your loan application. At RTC Mortgage Corporation, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

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

RTC Mortgage Corporation can answer questions about these closing costs. Give us a call: (949) 494-4701.

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