Q & A: What are Closing Costs?

Closing costs are fees/charges associated with the financing of the mortgage loan.  These costs include everything from the initial credit report cost and appraisal fee at the beginning of the mortgage application, to the recording fees and registration taxes charged by the county/state at the time of the closing. 

Closing costs can be paid at the closing by the buyer of the home, or negotiated as part of the contract price to be paid by the seller.  Clients/agents should always check with their loan officer first prior to making an offer, to ensure they get an accurate estimate of costs involved in each specific transaction as fees can vary for certain loan types/programs. 

By getting this information ahead of time, there should not be any unexpected costs or surprises for all parties.

For more information on closing costs or anything related to home financing, please do not hesitate to contact me.

Dawn Emerson

Phone: 952-440-2451

Cell: 952-956-2077

Toll Free Fax: 1-888-811-4184


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