How do Closing Costs Work?

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"Closing Costs" are the fees that pay for the various services involved when you sell or buy a house. Buyers & sellers usually negotiate to determine who will pay different portions of these closing costs.

As you'll see below, many of the buyer's closing costs cover the costs of originating the loan. Since Creative Financial is highly experienced with mortgages & closings, we can help you understand your closing costs.

Standard Closing Costs

Loan-Related Costs
  • Points — A fee paid to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Getting Your Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Costs associated with "originating" your loan
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance
Creative Financial can answer questions about these closing costs. Give us a call at (808) 891-9292.
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  • Homeowners Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

 

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