Closing can be very confusing. At Arrowhead Financial Group we try to make it simple. We are confident that we have the most competitive rates and fees, and we encourage you to shop. The key to obtaining the lowest closing costs is to compare Good Faith Estimates. The GFE is broken into five sections. You can request a booklet from the US Department of Housing for more information, or call us at 1-888-825-1177.

1. Section 800- Items payable in connection with loan. These are the lender's charges, and can vary between mortgage companies. Some items will be the same with all mortgage companies, ie; appraisal, and credit report. However this is the only section of the good faith estimate that truly varies between mortgage companies. All other fee's associated with a mortgage loan will be the same with every mortgage company.

2. Section 1100- Title Charges cover a variety of services performed by the title company. You have the right to shop these companies for the most competitive fees. The lender would need an insured closing protection letter. Although you may see different amounts in this section from other mortgage companies. These fee's are the same with every mortgage company.

3. Section 1200- Government Recorder and Transfer Charges, these fees may be paid by you or the seller. The buyer usually pays the fee for legally recording the new deed and mortgage, line item 1201.

4. Section 1300- Additional Settlement Charges. Surveys are often required. If a previous survey can be obtanined, then a new one may not be necessary. That would be up to the title insuring company. Any additional inspections would be your responsibility as an owner.

5. Section 900 and 1000 Pre-paid items. These will be the same with every lender. It's to start up your escrow account.

Like all major purchases, everything is negotiated between buyer and seller. Closing cost can be negotiated in the price. It's the same with your mortgage. We at Arrowhead will work for you to negotiate the best mortgage for your needs, and we will give you the professional personal service you deserve.

The easiest way to get the best deal.

Target your rate.

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