Every home sale involves costs. Sellers and buyers customarily split these closing costs, as the real estate sales contract specifies.
Many of the costs associated with buying residential real estate are associated with getting a loan. At Firelight Mortgage Consultants, we have extensive experience in mortgage lending, so we can compile a comprehensive list of costs related to your mortgage in your "Loan Estimate".
Soon after you submit your application, we'll give you a "Loan Estimate" of your costs. The closing costs enumerated in the Loan Estimate are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between the LE and closing. We go over Loan Estimates with buyers every day, so we will be happy to answer any questions you have about closing costs.
Below you'll find a fairly generic list of costs for buying a home. We will always provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Points — lower your mortgage interest rate (optional) Appraisal Costs Pulling Your Credit Report Up-front Interest Payment Escrow Fees TaxesLoan Origination Fee Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance
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