"Closing Costs" are the fees which cover the various services involved in the sale of residential real estate. Sellers and buyers usually negotiate to determine who will pay different portions of these costs.
As you'll see below, many of the buyer's closing costs cover the costs of getting the loan. Since Selectplus Lending is highly experienced with closings and mortgages, we are closing cost experts.
Very soon after you apply for a loan, we'll provide you with a "Loan Estimate" of your closing costs. The closing costs enumerated in the Loan Estimate are estimated based on Selectplus Lending's experience with mortgage loans, but costs usually vary by small amounts between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes vary a little bit at closing.
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 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 Up-front Interest Payment Escrow Account Various TaxesCosts related to "originating" your loan Points — lower your mortgage interest rate (optional) Appraisal Costs Credit Report Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance
Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.