What are Closing Costs?

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"Closing Costs" are the fees which cover the various services involved in the sale of residential real estate. Sellers and buyers usually negotiate to decide how to share these closing costs.

As you'll see below, many of the buyer's costs cover the costs of getting the loan. At Sierra View Financial Corp, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Good Faith Estimate".

The Good Faith Estimate (Also know as the GFE)

Very shortly after you submit your application, we'll give you a "Good Faith Estimate" of your closing costs. This closing cost estimate is based on our past experience. It's important to note that while our GFEs are very precise, we can't always predict closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and pointing out costs that can change slightly at the closing table.

Below is a general list of closing costs. We will always provide a specific list of your closing costs when we give you a Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs

• Escrow Account
• Taxes
• Loan Origination Fee
• Points — lower your interest rate (optional)
• Appraisal Fee
• Pulling Your Credit Report
• Up-front Interest Payment

Property Taxes

• Insurance
• Recording Fees and Transfer Taxes

Homeowners Insurance

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

Sierra View Financial Corp can help you understand closing costs. Call us at 916-989-6222.