Closing Costs

All residential real estate transactions involves fixed costs. Buyers and sellers almost always share these costs, as specified in the sales contract.

As you'll see below, many of the buyer's costs cover the costs of originating the mortgage loan. At RTC Mortgage Corporation, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".

The Loan Estimate (LE)

Very shortly after you submit your application, we'll provide you with the "Loan Estimate" of your costs. The closing costs specified in the LE are estimated based on RTC Mortgage Corporation's experience with mortgage loans, but costs usually vary a little bit between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can change slightly at closing.

Below is a generic list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

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

At RTC Mortgage Corporation, we answer questions about closing costs every day. Call us: 9494944701.

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