Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which pay for various services involved in the sale of a house. Sellers and buyers almost always negotiate to decide how to split these costs.

As the list below indicates, many of the closing costs result from getting your mortgage loan. Since First Community Bank of Central Al. has extensive experience with mortgages and closings, we are closing cost experts.

Good Faith Estimates (GFEs)

Buyers will receive a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. Please note that while our GFEs are very accurate, we can't always predict your closing costs to the penny. We review GFEs with buyers every day, so we'd be glad to answer the you have about closing costs.

We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you complete your application. At First Community Bank of Central Al., 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
  • Loan-related costs
  • Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Credit Report
  • Interest Payment
  • Escrow Account
  • Taxes
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

First Community Bank of Central Al. can answer questions about these closing costs. Give us a call at (334) 285-8850.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question