Don't Forget Closing Costs

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"Closing Costs" are the fees that cover various services involved in the sale of a home. Sellers & buyers negotiate to decide how to share these costs.

As indicated below, many of the costs result from getting your mortgage. At Nova Home Loans, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Soon after you apply for a loan, we'll provide you with a "Good Faith Estimate" of your costs. We base this closing cost estimate on our many years of past experience. It's important to note that while our GFEs are very precise, we can't always estimate your closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that can change slightly at closing.

Below is a general list of costs for buying a home. We will provide a specific list of your closing costs when we provide your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs

• Appraisal Costs
• Pulling Your Credit Report
• Interest Payment
• Escrow Fees
• Various Taxes
• Costs related to "originating" your loan
• Points — lower your mortgage interest rate (optional)

Property Taxes

• Recording Fees & Transfer Taxes
• Insurance

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood / Quake Insurance if applicable

Nova Home Loans can help you understand closing costs. Give us a call: 720-279-5932.