About Closing Costs

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"Closing Costs" are the fees which cover various services involved when you sell or buy a home. Buyers and sellers usually negotiate these costs.

As you'll see below, many of the costs result from getting your mortgage loan. At Oak Mortgage, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in a Pre-Application Worksheet or an official "Loan Estimate".

Loan Estimate (LE)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, some costs can change by small amounts between the LE and closing. We answer questions about closing costs every day at Oak Mortgage, so please feel free to ask if you have questions or you can download a FREE copy of the Consumer Finance Protection Boards (CFPB) Home Loan Tool Kit at http://files.consumerfinance.gov/f/20103_cfpb_your-home-loan-toolkit-web.pdf.

We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you complete your application. 

Standard Closing Costs

Loan-Related Costs
  • Appraisal Fee
  • Credit Report
  • Up-front Interest Payment
  • Tax Service
  • Flood Certification
  • Escrow Account
  • Property Taxes
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Earthquake Insurance if applicable
Oak Mortgage Company, LLC can answer questions about these closing costs. Call us at (856) 988-8100 x6615.

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