Certain standard costs are associated with closing the sale of a house. Sellers and buyers almost always split these closing costs, as specified in the real estate sales contract.
As you'll see below, many of the costs result from getting your mortgage loan. At Firelight Mortgage Consultants, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on costs related to your mortgage in your "Loan Estimate".
Very soon after you submit your application, we will provide you with the "Loan Estimate" of your closing costs. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs often vary by small amounts between delivery of the LE and closing. We review LEs with buyers every day, so we'd be glad to answer your questions about closing costs.
Below you'll find a fairly general list of closing costs. We will provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Credit Report Interest Payment Escrow Fees TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Fee Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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