There are certain standard costs related to closing the sale of a house. Buyers and sellers almost always share these closing costs, as the sales contract specifies.
As indicated below, many of the buyer's costs cover the costs of getting the loan. At Metro Mortgage, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing cost estimate comes out of our past experience. Please note that while our LEs are very precise, we can't always estimate costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that can change slightly at closing.
Below is 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
Getting YourCredit Report Interest Payment Escrow Fees TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Costs
Insurance Transfer Taxes & Recording Fees
Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance if applicable
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