Buy & Sell - Chris Gemlo Team
Chris Gemlo

Understanding Closing Costs

When it comes to closing the sale of a house, there are certain standard costs that are split between the buyer and seller which are specified in the purchase contract. The allocation of these fees is, to an extent, negotiable. As I negotiate the purchase contract on your behalf, I will strive to achieve the result that you desire, as well as reviewing the closing costs for which you are responsible.

Buyers will receive a “Loan Estimate” with closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer’s past experience and may not include all the closing costs. I am happy to review the Loan Estimate with and provide analysis based on my experience.

Prior to the closing, you will receive a “Closing Disclosure” that will include all of the final closing costs for your loan. The Closing Disclosure should match the Loan Estimate very closely.


Loan-Related Costs:

  • Loan origination fee
  • Points (if applicable)
  • Appraisal fee
  • Credit report
  • Interest payment
  • Escrow fee

Tax-Related Costs:

  • Prorated property taxes
  • Transfer taxes
  • Recording fees

Insurance-Related Costs:

  • Homeowners insurance
  • Flood or earthquake insurance
  • Private mortgage insurance (“PMI”)
  • Title insurance

Real Estate Sales Commissions

  • Sellers’ Broker/Agent
  • Buyer’s Broker/Agent
Current Last Week
30 Year Fixed 3.5% 3.46%
15 Year Fixed 2.91% 2.87%
5/1 Adjustable 2.97% 3.22%
Current Mortgage Rates



I lived in another state and was trying to find a condo while going to school in Minneapolis. Chris was extremely helpful and flexible in meeting with me to find the perfect fit.

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About Chris Gemlo

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Chris Gemlo

Real Estate Professional

MN lic#: 20330770

612-990-9595612-990-9595 office

612-990-9595612-990-9595 mobile

Counselor Realty

7300 France Ave S Suite #102 Edina, MN 55435

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