All residential real estate transactions involves certain fixed costs. Sellers and buyers almost always share these costs, as the real estate sales contract specifies.
As you'll see below, many of the buyer's costs are related to the costs of getting the mortgage loan. Since Firelight Mortgage Consultants is highly experienced with closings & mortgages, we often explain the details of closing costs.
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing costs enumerated in the Loan Estimate are estimated based on Firelight Mortgage Consultants's experience with mortgage loans, but costs often change a little bit between delivery of the LE and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can vary a little bit at the closing table.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your application. At Firelight Mortgage Consultants, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Loan Origination Fee Points — lower your mortgage interest rate (optional) Appraisal Fee Obtaining Your Credit Report Up-front Interest Payment Escrow Account Taxes Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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