What are Closing Costs?

"Closing Costs" are the fees that pay for various services involved when you sell or buy residential real estate. Sellers and buyers negotiate the payment of these closing costs.

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 mortgages and closings, we are closing cost experts.

Loan Estimates (LEs)

Very shortly after you submit your application, we'll provide you with a "Loan Estimate" of your costs. We base this closing cost estimate on our many years of past experience. Please note that while our LEs are very accurate, we cannot always predict closing costs to the penny. We review LEs with buyers almost every day, so we will be happy to answer the 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 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

Loan-Related Costs
  • Taxes
  • Loan-related costs
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Fee
  • Credit Report
  • Interest Payment
  • Escrow Fees
Property Taxes
  • Insurance
  • Recording Fees and Transfer Taxes
Homeowners Insurance
  • Title Insurance
  • Flood or Earthquake Insurance
  • Private Mortgage Insurance (PMI)

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

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