All residential real estate transactions involves costs. Buyers and sellers usually share these costs, as specified in the real estate sales contract.
Many of the costs associated with buying a home are associated with getting a loan. Since The Mortgage Firm - Team Meyers is highly experienced with closings & mortgages, we are closing cost experts.
Very soon after you apply for a loan, we'll give you a "Loan Estimate" of your costs. This cost estimate comes out of the loan officer's past experience. It's important to note that while our LEs are very accurate, we cannot always predict your costs to the penny. We explain Loan Estimates with buyers almost every day, so we will be happy to answer any questions you have about closing costs.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you have completed 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
Appraisal Fee Obtaining Your Credit Report Interest Payment Escrow Fees TaxesCosts related to "originating" your loan Points — lower your interest rate (optional)
Recording Fees & Transfer Taxes Insurance
Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance
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