Don't Forget Closing Costs

There are certain standard costs related to closing the sale of a house. Sellers and buyers usually share these closing costs, as the sales contract specifies.

Many of the costs associated with buying residential real estate are associated with getting the mortgage loan. At RTC Mortgage Corporation, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".

Loan Estimates (LEs)

Soon after you apply for a loan, we will provide you with the "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on RTC Mortgage Corporation's experience with mortgage loans, but costs usually vary a little bit between the LE and closing. We field buyers' questions about closing costs every day at RTC Mortgage Corporation, so please be sure to contact us if we can help answer your questions.

We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, soon after you have completed 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
  • Escrow Fees
  • Various Taxes
  • Costs related to "originating" your loan
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Pulling Your Credit Report
  • Up-front Interest Payment
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

RTC Mortgage Corporation can answer questions about these closing costs. Call us at 9494944701.

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