Every home sale incurs certain costs. Sellers and buyers customarily share these closing costs, as the real estate sales contract specifies.
As indicated below, many of the buyer's closing costs are related to the costs of originating the loan. At The Mortgage Firm - Team Meyers, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs specified in the LE are estimated based on The Mortgage Firm - Team Meyers's experience with mortgage loans, but costs often vary a little bit between delivery of the LE and closing. We review Loan Estimates with buyers every day, so we'd be glad to answer the you have about closing costs.
We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you have completed your loan 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
Up-front Interest Payment Escrow Account Various TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Credit Report
InsuranceRecording Fees & Transfer Taxes
Title Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI)
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