Certain standard costs are related to closing the sale of a home. Sellers and buyers almost always share these costs, as specified in the real estate sales contract.
Many of the closing costs associated with buying a house are associated with getting a mortgage loan. Since Firelight Mortgage Consultants is highly experienced with closings & mortgages, we often explain the details of closing costs.
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often vary a little bit between delivery of the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes change slightly at closing.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed your application. At Firelight Mortgage Consultants, 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 Getting YourCredit Report Interest Payment Escrow Account Various TaxesCosts associated with "originating" your loan Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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