"Closing Costs" are the fees which pay for the various services involved in the sale of a home. Sellers & buyers usually negotiate to determine who will pay different portions of these costs.
Many of the closing costs associated with buying a home are associated with getting a loan. At Firelight Mortgage Consultants, we are highly experienced in mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the Loan Estimate are estimated based on Firelight Mortgage Consultants's experience with mortgage loans, but costs usually change a little bit between delivery of the LE and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes change slightly at closing.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete 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 Escrow Account Various TaxesLoan Origination Fee Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Pulling Your Credit Report Interest Payment Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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