Closing Costs for Home Real Estate Transactions

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.

Loan Estimates (LEs)

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

Loan-Related Costs
  • Appraisal Fee
  • Obtaining Your Credit Report
  • Interest Payment
  • Escrow Fees
  • Taxes
  • Costs related to "originating" your loan
  • Points — lower your interest rate (optional)
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood or Quake Insurance

The Mortgage Firm - Team Meyers can answer questions about these closing costs. Call us at (407) 889-4321.

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