All residential real estate sales incurs certain costs. Buyers and sellers customarily share these costs, as specified in the sales contract.
As the list below indicates, many of the closing costs result from getting your mortgage loan. At Firelight Mortgage Consultants, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on mortgage-related costs in your "Loan Estimate".
Soon after you submit your application, we'll provide you with a "Loan Estimate" of your costs. We base this cost estimate on our many years of past experience. Please note that while our LEs are very accurate, we cannot always estimate your costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes vary a little bit at closing.
Below is a general list of closing costs. We will provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Escrow Account TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Pulling Your Credit Report Interest Payment Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Title Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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