Certain standard costs are associated with closing the sale of a home. Sellers and buyers usually split these costs, as specified in the sales contract.
As you'll see below, many of the buyer's costs cover the costs of originating the loan. At The Mortgage Firm - Team Meyers, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on costs related to your mortgage in your "Loan Estimate".
Soon after you apply for a loan, we will give you the "Loan Estimate" of your costs. The closing costs spelled out in the Loan Estimate are estimated based on The Mortgage Firm - Team Meyers's experience with mortgage loans, but costs usually vary a little bit between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that can change slightly at closing.
Below you'll find a fairly generic list of closing costs. We will provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
Appraisal Fee Credit Report Up-front Interest Payment Escrow Fees Various TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your interest rate (optional)
Insurance Transfer Taxes and Recording Fees
Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance if applicable
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