What closing costs should you expect?
Loan-related closing costs
- Points (optional)
- Appraisal Fee
- Credit Report
- Interest Payment
- Escrow Account
At closing, these taxes are usually collected
- Property Taxes
- Transfer Taxes and Recording Fees
At closing, these fees are often due
- Homeowners Insurance
- Flood or Quake Insurance (optional)
- Private Mortgage Insurance (PMI) (optional)
- Title Insurance
Sellers: As we hammer out your sale, not only will I work to get the very best sales price, but I’ll also advocate for reduced closing costs. And once we’ve arrived at an agreement, I’ll walk you through the closing costs so you are informed of exactly what you’re paying for.
Buyers: If you are buying a house in Santa Monica, you will be given a “Loan Estimate” (LE) of closing costs within three days of submitting your loan application and a “Closing Disclosure” no fewer than three days prior to closing. These estimates are based on the loan officer’s prior experience and are required to be within a suitable range so you’re not surprised when you come to the closing appointment. I’ll be glad to go over the estimate with you, answering your questions and highlighting any estimates that seem unusual.