Certain standard costs are related to closing the sale of a house. Buyers and sellers almost always split these closing costs, as the real estate sales contract specifies.
As indicated below, many of the buyer's closing costs are related to the costs of getting the loan. At Firelight Mortgage Consultants, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".
Very shortly after you apply for a loan, we will give you the "Loan Estimate" of your costs. The closing costs specified in the LE are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between delivery of the LE and closing. We answer buyers' questions about closing costs every day at Firelight Mortgage Consultants, so please be sure to contact us if you have questions.
Below is a fairly general list of costs for buying residential real estate. 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 — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Obtaining Your Credit Report Up-front Interest Payment Escrow Fees Various Taxes Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Title Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI)
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.