Closing Cost Explainer
Welcome to Lesson 3 of our Speak Straight Mortgage video series—your step-by-step guide to estimating closing costs with confidence. This lesson builds on what we’ve already covered in Lessons 1 and 2 and dives into the real numbers behind what you’ll need out of pocket to close on a home.
💡 This is not your typical "2–3% rule of thumb" advice. We break down each line item using a downloadable workbook, so you can plug in your own info and understand exactly where every dollar goes.
🧠 What You’ll Learn:
✅ Quick Recap of Lessons 1 & 2
We briefly revisit the basics, including mortgage payment components and loan types, to make sure you’re set up for success.
📊 Estimating Closing Costs Accurately
From discount points to prepaid interest and taxes, we guide you through real-world scenarios using our interactive workbook.
💸 Specific Cost Breakdown
We explain lender fees, homeowners insurance, prepaid costs, seller concessions, lender credits, and more—including how your closing date impacts total expenses.
📄 Understanding the Loan Estimate
We walk through each section (A through J), showing you where your key costs appear and what they mean for your bottom line.
🖥️ Why This Lesson Matters:
Hands-On Practice
With our downloadable workbook, you’ll work through the same fields we cover in the video—turning this into a real-time financial planning session.
Clear, Professional Guidance
No jargon. No fluff. Just real explanations to help you feel prepared and in control.
Applicable to You
Whether you're buying now or planning for the future, this lesson gives you a framework for estimating what you’ll need to bring to closing.
📘 Get Started:
Download the Workbook
Copy and paste this link to follow along: https://docs.google.com/spreadsheets/d/1mFk10qpKVYdYFenUtP9r-Wnf7Y2w848Q2OQowVnkoMU/edit?gid=1545098040#gid=1545098040
Watch the Video
See how each cost fits into your total out-of-pocket amount and follow along at your own pace.
Ask Questions
Have something specific to your situation? Reach out or comment—we’re here to help.
Lesson 1: What Will My Payments Be:: https://speakstraightmortgage.com/post/howmuchwillmypaymentsbe
Lesson 2 What Types Of Loan Are Available:
https://speakstraightmortgage.com/post/howmuchwillmypaymentsbe
Schedule a meeting here: https://links.empowerlo.com/widget/booking/t9otZCJe733FJR4INdfk
This is your chance to gain clarity on one of the most confusing parts of the home buying process. Lesson 3 gives you the tools to estimate your closing costs accurately and confidently.
🗝️ Watch the lesson, download the workbook, and start planning like a pro.
