There are certain standard costs associated with closing the sale of a home. Sellers and buyers customarily 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 have extensive experience in mortgage lending, so we can provide you with a comprehensive list of costs related to your mortgage in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. Please note that while our LEs are very precise, we cannot always predict closing costs to the penny. We answer buyers' questions about these costs every day at Firelight Mortgage Consultants, so don't hesitate to contact us if you have questions.
Below is a fairly 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 Fees Various TaxesLoan-related costs Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance if applicable
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