Closing Costs

There are certain standard costs associated with closing a loan. In a purchase these fees are split between the buyer and the seller or negotiated on the Financing Addendum of the Purchase Contract. Depending on the type of refinance you are applying for these fees can be rolled into your new loan amount, paid outside of closing or a little bit of both.

Good Faith Estimate

Borrowers receive an initial "Good Faith Estimate" of closing costs within three days of the initial loan application. The estimate is based on the mortgage advisor's knowledge and includes all fees (estimated) for your loan transaction.