Closing Costs

All residential real estate transactions involves costs. Sellers and buyers usually split these costs, as the sales contract specifies.

Many of the closing costs associated with buying residential real estate are associated with getting the loan. Since Metro Mortgage is highly experienced with mortgages & closings, we are closing cost experts.

Loan Estimate (Also known as the LE)

Very soon after you submit your application, we'll give you the "Loan Estimate" of your closing costs. The closing costs spelled out 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 LEs with buyers every day, so we will be happy to answer the you have about closing costs.

Below you'll find a fairly generic list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Interest Payment
  • Escrow Fees
  • Various Taxes
  • Loan Origination Fee
  • Points — lower your mortgage interest rate (optional)
  • Appraisal Costs
  • Pulling YourCredit Report
Property Taxes
  • Recording Fees & Transfer Taxes
  • Insurance
Homeowners Insurance
  • Flood or Quake Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance

At Metro Mortgage, we answer questions about closing costs every day. Call us: 866-300-1550.

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