"Closing Costs" are the fees that cover various services involved when you sell or buy a home. Sellers and buyers often negotiate to decide how to split these costs.
As you'll see below, many of the costs result from getting your mortgage. Since Firelight Mortgage Consultants is highly experienced with closings & mortgages, we are closing cost experts.
Very shortly after you apply for a loan, we will provide you with a "Loan Estimate" of your costs. This closing cost estimate is based on our past experience. It's important to note that while our LEs are very precise, we can't always estimate costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes change slightly at the closing table.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Firelight Mortgage Consultants, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Appraisal Costs Obtaining Your Credit Report Up-front Interest Payment Escrow Fees TaxesCosts related to "originating" your loan Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance
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