Closing Costs

There are standard closing costs associated with the sale in a real estate transaction. These costs are split between the buyer and the seller, as spelled out in the sales contract.

Good Faith Estimate

A Good Faith Estimate, often referred to as a GFE, must be provided by a mortgage lender to a customer as required by the Real Estate Settlement Procedures Act (RESPA). The GFE is an itemized list of fees and costs associated with the loan. These mortgage fees, also called closing costs, cover all expenses associated with a home loan, including inspections, title insurance, taxes and other charges. The Good Faith Estimate is only an estimate and your Redwood Capital Bank lender will review this document with you and will answer any questions you may have.

Standard Closing Costs

Loan-Related Costs
Loan Origination Fee
Points (optional)
Appraisal Fee
Credit Report
Interest Payment
Escrow Account

Taxes
Property Taxes
Transfer Taxes and Recording Fees

Insurance
Homeowners Insurance
Flood or Quake Insurance
Private Mortgage Insurance (PMI)
Title Insurance