Closing Costs for Residential Real Estate Transactions

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Every home sale involves fixed costs. Sellers and buyers usually split these closing costs, as specified in the real estate sales contract.

As you'll see below, many of the costs result from getting your loan. Since Paragon Mortgage Services, Inc. has extensive experience with mortgages & closings, we can help you understand your closing costs.

Good Faith Estimate (Also know as the GFE)

Soon after you apply for a loan, we'll provide you with the "Good Faith Estimate" of your closing costs. The closing costs specified in the GFE are estimated based on Paragon Mortgage Services, Inc.'s experience with mortgage loans, but costs usually vary a little bit between delivery of the GFE and closing. We will be glad to review the "Good Faith Estimate," answering questions and pointing out costs that sometimes vary a little bit at the closing table.

We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, soon after you have completed your application. At Paragon Mortgage Services, Inc., 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

• Taxes
• Loan-related costs
• Points — A fee paid to lower your interest rate (optional)
• Appraisal Fee
• Credit Report
• Interest Payment
• Escrow Account

Property Taxes

• Transfer Taxes & Recording Fees
• Insurance

Homeowners Insurance

• Flood / Earthquake Insurance if applicable
• Private Mortgage Insurance (PMI)
• Title Insurance

Paragon Mortgage Services, Inc. can help you understand closing costs. Call us: 303.PARAGON (303.727.2466).