About Closing Costs

There are certain standard costs related to closing the sale of a house. Buyers and sellers usually split these costs, as the real estate sales contract specifies.

As you'll see below, many of the buyer's closing costs cover the costs of getting the mortgage loan. At Baywide Funding Corporation, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of closing costs related to your mortgage in your "Good Faith Estimate".

Good Faith Estimates (GFEs)

Very shortly after you apply for a loan, we will give you the "Good Faith Estimate" of your closing costs. The closing costs specified in the GFE are estimated based on our experience with mortgage loans, but costs usually change a little bit between 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 closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete your application. At Baywide Funding Corporation, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs
  • Various Taxes
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Getting Your Credit Report
  • Up-front Interest Payment
  • Escrow Account
Property Taxes
  • Transfer Taxes and Recording Fees
  • Insurance
Homeowners Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At Baywide Funding Corporation, we answer questions about closing costs every day. Call us at 650 428 0234.