"Closing Costs" are the fees that pay for the various services involved in the sale of a home. Sellers and buyers often negotiate to decide how to split these costs.
Many of the costs associated with buying a home are associated with getting a mortgage loan. Since Firelight Mortgage Consultants is highly experienced with closings & mortgages, we can help you understand your closing costs.
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often vary by small amounts between the Loan Estimate (LE) and closing. We review Loan Estimates with buyers almost every day, so we'd be glad to answer your questions about closing costs.
Below is a generic list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Loan-related costs Points — lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account Various Taxes Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance if applicable
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