About Closing Costs

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"Closing Costs" are the fees which cover various services involved in the sale of a home. Sellers & buyers often negotiate the payment of these closing costs.

Many of the closing costs associated with buying a house are associated with getting a mortgage. At Nationwide Residential Capital, Inc., we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs often change by small amounts between delivery of the GFE and closing. We field questions about closing costs every day at Nationwide Residential Capital, Inc., so please be sure to ask if we can help answer your questions.

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

Standard Closing Costs

Loan-Related Costs
  • Appraisal Fee
  • Obtaining Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Costs related to "originating" your loan
  • Points — A fee paid to lower your mortgage interest rate (optional)
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)
Nationwide Residential Capital, Inc. can help you understand closing costs. Give us a call at 813-865-6040.

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