Don't Forget Closing Costs

Johnson Mortgage Company LLC can help you understand closing costs. Call us: 757-873-1287.

All residential real estate sales incurs costs. Buyers almost always pay these closing costs as the sales contract specifies.  However, depending on State law, the seller may have to split a portion of the closing costs. "Closing Costs" are the fees which pay for various services involved in the sale of a house. These fees might be paid directly or indirectly by increasing the loan amount or charging a higher interest rate.

As you'll see below, many of the buyer's costs cover the costs of originating the mortgage loan. At Johnson Mortgage Company LLC, we have extensive experience in mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your estimate.

Obtaining The Loan Estimate

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. This estimate is not an approval, rather it's the first step toward securing your loan.

We will be glad to review the estimate, answering your questions and highlighting costs that can vary a little bit at closing.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you complete your loan application. At Johnson Mortgage Company LLC, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs

  • Obtaining Your Credit Report
  • Interest Payment
  • Escrow Account
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs

Property Taxes

  • Insurance
  • Transfer Taxes and Recording Fees

Homeowners Insurance

  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Earthquake Insurance, if applicable
Looking for mortgage advice? We'd be thrilled to discuss our mortgage offerings! Call us at 757-873-1287. Want to get started? Apply Now.

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