Your Closing Costs
"Closing Costs" are the fees that pay for the various services involved in the sale of a house. Sellers & buyers usually negotiate to decide how to split these closing costs.
Many of the closing costs associated with buying a home are associated with getting the mortgage loan. At Homewithloan.com, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Loan Estimate".
Loan Estimate (Also known as the LE)
Very soon after you apply for a loan, we will give you the "Loan Estimate" of your costs. The cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very precise, we can't always estimate your closing costs to the penny. We go over LEs with buyers every day, so we'd be glad to answer any questions you have about closing costs.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your application. At Homewithloan.com, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Costs
- Pulling Your Credit Report
- Up-front Interest Payment
- Escrow Fees
- Various Taxes
- Costs related to "originating" your loan
- Transfer Taxes and Recording Fees
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Quake Insurance if applicable
Homewithloan.com can help you understand closing costs. Call us: 9727982110.