There are certain standard costs related to closing the sale of a house. Sellers and buyers customarily share these closing costs, as specified in the real estate sales contract.
Many of the costs associated with buying a house are associated with getting the mortgage. Since MortgageZ LLC is highly experienced with mortgages and closings, we are closing cost experts.
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The cost estimate comes out of the loan officer's past experience. Please note that while our LEs are very precise, we can't always predict your costs to the penny. We go over LEs with buyers every day, so we are happy to answer your questions about closing costs.
Below is a fairly generic list of costs for buying residential real estate. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Points — A fee paid to lower your interest rate (optional) Appraisal Costs Pulling Your Credit Report Up-front Interest Payment Escrow Account Various TaxesLoan Origination Fee Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Title Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI)
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