How do Closing Costs Work?

"Closing Costs" are the fees that pay for the various services involved when you sell or buy a house. Buyers and sellers almost always negotiate these costs.

As you'll see below, many of the buyer's closing costs cover the costs of getting the mortgage loan. At First Washington Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".

Loan Estimates (LEs)

Very shortly after you submit your application, we will give you the "Loan Estimate" of your costs. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we cannot always predict your costs to the penny. We handle buyers' questions about closing costs every day at First Washington Mortgage, so please feel free to contact us if you have questions.

Below is a generic list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we deliver your Good Faith Estimate.