Closing Costs Guaranteed
Unexpected closing costs can delay your home purchase or refinance. That’s why Sammamish Mortgage offers Guaranteed Closing Costs, providing transparent pricing and greater confidence throughout the mortgage process. Whether you’re buying a home or refinancing in Washington, Oregon, Idaho, California, or Colorado, you’ll know your closing costs before you close. Contact Us Today to learn more.
Mortgage Closing Costs
You pay closing costs when you close on your home loan, the day you sign your final purchase agreement. Your closing costs are usually foreshadowed in a loan estimate, given to you a few days after you apply for a loan, and repeated in your closing disclosure, given to you a few days before you close your home loan. The loan estimate and closing disclosure should be nearly identical.
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How Much Are Closing Costs?
Closing costs are usually anywhere from 2% to 5% of the total purchase price of your home. Some of your costs may be paid from money you put in an escrow account as earnest money and to cover other fees during the home loan approval process.
You’ll usually have some of that money leftover by the time you get to closing. Alternatively, the seller might pick up some of the closing costs, if legally allowed in your state, or you might qualify for an assistance program that will cover some or all of these costs for you.
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What is Calculated as a Closing Cost?
Costs that will need to be paid during the home buying process or paid at closing include but aren’t limited to:
- loan origination or application fees (often negotiable)
- discount points (to lower your interest rate)
- an upfront mortgage insurance premium (if required)
- appraisal fees
- an underwriting fee (often negotiable)
- pest inspection (if required)
- flood certification (if required)
- homeowners insurance
- title search and title insurance fees
- escrow fees
- appraisal fees
- property taxes
- attorney fees
What Fees Can Be Guaranteed?
While most mortgage lenders provide only a cost estimate, Sammamish Mortgage provides guaranteed closing costs. We guarantee not only the lender fees but guarantee the costs of third party service providers as well.
Fees we guarantee include Appraisal Fee, Credit Report, Flood Cert, Tax Service, Settlement Agent, Lender Title Insurance, and all Government Recording and Transfer Charges.
Guarantee of Settlement Agent, Lender Title Insurance and Government Recording charges requires the use of our recommended providers. You may choose to use different service providers, in which case these fees are not guaranteed.
Guaranteed fees on purchase transactions include only standard fees paid by the buyer. Fees normally paid by the seller that the buyer agrees to pay are not included in our guarantee.
Prepaid items such as property taxes, insurance and daily interest collected at closing, are not guaranteed. Charges by your current lender in connection with your payoff on a refinance are not guaranteed. These items are not lender specific and will be the same regardless of which mortgage company you choose to work with.
Potential fees associated with subordinating a 2nd lien or your HOA are not guaranteed. We will contact the 2nd lien holder or HOA as early in the process as possible to get their cost quotes.
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Our loan officers are ready and waiting to help you apply for your home loan.
Working With Sammamish Mortgage
At Sammamish Mortgage, our experienced Loan Officers always put clients first, helping you find the right loan for your budget.
We offer competitive rates, fast closings, and a hassle-free mortgage experience, with loan options including FHA and VA loans.
For more information on your home mortgage options, feel free to contact us today. We currently lend in all of Washington, Oregon, Idaho, Colorado and California and have been offering mortgage programs to borrowers since 1992. Our friendly team of experienced mortgage professionals will advise you on which home loan program most effectively meets your needs.
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