"Closing Costs" are the fees that cover various services involved in the sale of a house. Buyers and sellers often negotiate the payment of these closing costs.
As the list below indicates, many of the closing costs result from getting your loan. At Firelight Mortgage Consultants, we are highly experienced in mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".
Soon after you submit your application, we will give you a "Loan Estimate" of your costs. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the LE and closing. We go over Loan Estimates with buyers almost every day, so we will be happy to answer your questions about closing costs.
Below is a fairly generic list of closing costs. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
Escrow Fees Various TaxesCosts associated with "originating" your loan Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs Getting Your Credit Report Up-front Interest Payment
InsuranceRecording Fees & Transfer Taxes
Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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