"Closing Costs" are the fees which pay for various services involved in the sale of residential real estate. Sellers and buyers usually negotiate to decide how to split these costs.
As you'll see below, many of the costs result from getting your mortgage loan. Since Firelight Mortgage Consultants is highly experienced with mortgages & closings, we are closing cost experts.
Very soon after you apply for a loan, we will provide you with the "Loan Estimate" of your costs. The cost estimate comes out of our past experience. It's important to note that while our LEs are very accurate, we cannot always predict closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and pointing out costs that sometimes change slightly at closing.
Below you'll find a generic list of closing costs. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Appraisal Costs Credit Report Up-front Interest Payment Escrow Fees Various TaxesCosts related to "originating" your loan Points — A fee paid to lower your interest rate (optional) Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Title Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI)
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