About Closing Costs

Shopping for a mortgage loan? Joe Wagner can assist you!    Call Joe Wagner at 612-327-4544. Ready to begin? Apply Here.

Every home sale involves certain fixed costs. Sellers and buyers customarily share these costs, as the sales contract specifies.

As you'll see below, many of the buyer's closing costs cover the costs of getting the loan. Since MinnTrust Mortgage is highly experienced with closings & mortgages, we can help you understand your closing costs.

The Good Faith Estimate (Also know as the GFE)

Buyers get a "Good Faith Estimate" of closing costs around the time the loan application is submitted to the lender. The closing cost estimate comes out of our past experience. It's important to note that while our GFEs are very accurate, we can't always estimate your closing costs to the penny. We will be glad to review the "Good Faith Estimate," answering your questions and highlighting costs that can change slightly at the closing table.

Below is a fairly generic list of closing costs. We will always provide a specific list of your closing costs when we deliver your Good Faith Estimate.

Standard Closing Costs

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

Joe Wagner answers questions about closing costs every day. Call Joe Wagner: 612-327-4544.

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Mtg Loan Rate APR
30-yr Fixed 3.89% 4.02%
15-yr Fixed 3.16% 3.33%
1-yr Adj 2.74% 3.4%
* national averages

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