About Closing Costs

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All residential real estate sales involves fixed costs. Sellers and buyers almost always share these costs, as specified in the sales contract.

As you'll see below, many of the buyer's closing costs cover the costs of getting the mortgage loan. Since Quantum Mortgage has extensive experience with mortgages & closings, we are closing cost experts.

Good Faith Estimate (GFE)

Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the GFE are estimated based on Quantum Mortgage 's experience with mortgage loans, but costs often change a little bit between the Good Faith Estimate (GFE) and closing. We field questions about these costs every day at Quantum Mortgage , so please be sure to contact us if we can help answer your questions.

Below you'll find a generic list of closing costs. We will always provide a specific list of your closing costs when we deliver your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs

• Various Taxes
• Loan-related costs
• Points — lower your mortgage interest rate (optional)
• Appraisal Costs
• Credit Report
• Interest Payment
• Escrow Fees

Property Taxes

• Transfer Taxes & Recording Fees
• Insurance

Homeowners Insurance

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

Quantum Mortgage can help you understand closing costs. Call us: (914) 287-2405.