There are certain standard costs associated with closing the sale of a house. Buyers and sellers usually share these costs, as the sales contract specifies.
As you'll see below, many of the closing costs result from getting your mortgage loan. Since The Mortgage Firm - Team Meyers has extensive experience with closings and mortgages, we can help you understand your closing costs.
Soon after you submit your application, we'll give you a "Loan Estimate" of your costs. The closing costs spelled out in the LE are estimated based on The Mortgage Firm - Team Meyers's experience with mortgage loans, but costs often change by small amounts between the Loan Estimate (LE) and closing. We field buyers' questions about closing costs every day at The Mortgage Firm - Team Meyers, so don't hesitate to contact us if you have questions.
We've provided a general list of these 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'll be sure to let you know immediately.
Standard Closing Costs
Appraisal Costs Getting Your Credit Report Up-front Interest Payment Escrow Fees Various TaxesLoan-related costs Points — lower your interest rate (optional)
InsuranceRecording Fees & Transfer Taxes
Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance
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