Closing Costs Made Easy

To Do Lists and Other Helpful Information

Are you ready for that moment when you sit down at the table for the closing on a new mortgage, and someone hands you a stack of documents as thick as your fist? You’ll be asked to sign off on so many documents it could make your head spin — if you’re not prepared. But there’s no need to worry. Use this section as a reference to explain everything you need to know to sail through closing. We’ll help you to understand each and every charge. And of course, if there’s any aspect of the closing process that isn’t perfectly clear to you, just give one of our loan consultants a call.

Our explanation of closing charges is based on the actual form you will receive at the time of closing — the HUD-1 form. You will be asked to bring a personal or cashiers to check to the closing to pay for the closing charges. Closing charges vary somewhat from state to state, but our list should cover everything you could possibly run into.

If a real estate agent is involved in the sale of a home, his or her commission is normally paid by the seller. This fee is normally written into the sales and purchase contract.

Charges to Be Paid in Advance

In the case where an actual sale of the home is involved, rather than a refinancing by the same owner, the following charges will be divided between the previous owner and the new owner:

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Fees Imposed by the Lender to Be Paid at Closing

In cases where the buyer is acquiring a new home, rather than refinancing, the following may be imposed:

Title Charges

This list covers usual charges for services performed by the title company and others. You may not be required to pay for all of these. On the other hand, there can be other charges not included in this list.

Government Recording and Transfer Charges

Other Charges