"Closing Costs" are the fees which pay for the various services involved when you sell or buy a house. Sellers & buyers often negotiate to determine who will pay different portions of these costs.
As indicated below, many of the costs result from getting your mortgage loan. At The Mortgage Firm - Team Meyers, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".
Very soon after you apply for a loan, we will give you a "Loan Estimate" of your costs. We base this cost estimate on our many years of past experience. Please note that while our LEs are very accurate, we can't always predict closing costs to the penny. We field questions about closing costs every day at The Mortgage Firm - Team Meyers, so please feel free to ask if you have questions.
We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, soon after you complete your application. At The Mortgage Firm - Team Meyers, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
Various TaxesCosts related to "originating" your loan Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account
Insurance Transfer Taxes and Recording Fees
Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance if applicable
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