How do Closing Costs Work?

Agape Home Mortgage, LLC can answer questions about these closing costs. Call us at 503-243-5626.

Every home sale incurs fixed costs. Buyers usually pay these closing costs, as the real estate sales contract specifies, however, depending on the contract the seller may have to split a portion of the closing costs. "Closing Costs" are the fees which cover the various services involved when you sell or buy residential real estate. These fees might be paid out of pocket or indirectly by crediting the loan.

Many of the costs associated with buying a home are associated with getting the loan. Since Agape Home Mortgage, LLC is highly experienced with mortgages & closings, we are closing cost experts.

The Loan Estimate

Within three days after you submit your application, we will provide you with a Loan Estimate. The Loan Estimate details information like closing costs, taxes, insurance, estimated interest rate monthly payment and more. Getting an estimate doesn't mean you've been approved, but it's the first step toward securing your loan.

We explain estimates with buyers almost every day, so we'd be glad to answer the you have about closing costs.

Below you'll find a fairly generic list of closing costs. We will always provide a specific list of your closing costs when we give you an estimate.

Standard Closing Costs

Loan-Related Costs
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Fees
  • Costs associated with "originating" your loan
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
In the market for a mortgage? We can assist you! Give us a call at 503-243-5626. Ready to get started? Apply Here.

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