Your Closing Costs

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"Closing Costs" are the fees which cover the various services involved when you sell or buy residential real estate. Buyers & sellers usually negotiate to determine who will pay different portions of these costs.

As indicated below, many of the closing costs result from getting your loan. Since The Dave Radke Team at Standard Bank and Trust has extensive experience with mortgages & closings, we can help you understand your closing costs.

Good Faith Estimates (GFEs)

Buyers will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. Please note that while our GFEs are very precise, we can't always predict closing costs to the penny. We field buyers' questions about these costs every day at The Dave Radke Team at Standard Bank and Trust, so don't hesitate to ask if we can help answer your questions.

Below is a general list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we provide your Good Faith Estimate.

Standard Closing Costs

Loan-Related Costs

• Loan-related costs
• Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
• Appraisal Costs
• Pulling Your Credit Report
• Up-front Interest Payment
• Escrow Fees
• Various Taxes

Property Taxes

• Insurance
• Recording Fees & Transfer Taxes

Homeowners Insurance

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

The Dave Radke Team at Standard Bank and Trust can help you understand closing costs. Give us a call at 312-806-9309.