About Closing Costs

Every home sale incurs certain fixed costs. Sellers and buyers usually share these closing costs, as specified in the sales contract.

As indicated below, many of the buyer's closing costs are related to the costs of getting the loan. At The Mortgage Exchange Service LLC, we have extensive experience in mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs spelled out in the Loan Estimate are estimated based on The Mortgage Exchange Service LLC's experience with mortgage loans, but costs often vary by small amounts between the LE and closing. We field questions about these costs every day at The Mortgage Exchange Service LLC, so please be sure to ask if we can help answer your questions.

We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you complete your loan application. At The Mortgage Exchange Service LLC, 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
  • Up-front Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan-related costs
  • Points — A fee paid to lower your interest rate (optional)
  • Appraisal Costs
  • Obtaining YourCredit Report
Property Taxes
  • Recording Fees and Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance if applicable

At The Mortgage Exchange Service LLC, we answer questions about closing costs every day. Give us a call: 703.255-5810.

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