What are Closing Costs?

"Closing Costs" are the fees which pay for the various services involved when you sell or buy residential real estate. Buyers & sellers negotiate to decide how to split these closing costs.

As indicated below, many of the buyer's costs cover the costs of originating the loan. Since Jadestone Mortgage Inc. is highly experienced with closings & mortgages, we can help you understand your closing costs.

The Good Faith Estimate (Also know as the GFE)

Buyers will get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the Good Faith Estimate are estimated based on our experience with mortgage loans, but costs often vary by small amounts between delivery of the Good Faith Estimate (GFE) and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that sometimes change slightly at closing.

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