All residential real estate sales incurs costs. Sellers and buyers customarily share these costs, as specified in the real estate sales contract.
Many of the costs associated with buying a house are associated with getting the loan. At Selectplus Lending, we have extensive experience in mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The cost estimate is based on our past experience. Please note that while our LEs are very precise, we can't always predict closing costs to the penny. We field buyers' questions about these costs every day at Selectplus Lending, so please feel free to contact us if we can help answer your questions.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Selectplus Lending, 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 Various TaxesLoan Origination Fee Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Credit Report Interest Payment Escrow Fees Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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