Every home sale incurs certain fixed costs. Sellers and buyers usually split these costs, as specified in the sales contract.
Many of the closing costs associated with buying a home are associated with getting the mortgage. Since The Mortgage Firm - Team Meyers is highly experienced with closings and mortgages, we are closing cost experts.
Soon after you apply for a loan, we will give you the "Loan Estimate" of your costs. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between the LE and closing. We review Loan Estimates with buyers every day, so we'd be glad to answer your questions about closing costs.
Below is a general list of costs for buying residential real estate. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Getting Your Credit Report Interest Payment Escrow Account TaxesLoan Origination Fee
Recording Fees and Transfer Taxes Insurance
Flood / Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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