Don't Forget Closing Costs

"Closing Costs" are the fees that cover the various services involved when you sell or buy a home. Sellers and buyers almost always negotiate to determine who will pay different portions of these closing costs.

As you'll see below, many of the costs result from getting your mortgage loan. Since The Mortgage Firm - Team Meyers has extensive experience with closings & mortgages, we are closing cost experts.

The Loan Estimate (Also known as the LE)

Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. This closing cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very precise, we can't always estimate closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can change slightly at the closing table.

Below is a fairly general list of closing costs. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Escrow Fees
  • Taxes
  • Loan Origination Fee
  • Points — lower your interest rate (optional)
  • Appraisal Fee
  • Obtaining Your Credit Report
  • Interest Payment
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)
  • Title Insurance

The Mortgage Firm - Team Meyers can help you understand closing costs. Give us a call at (407) 889-4321.

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