Every home sale involves certain fixed costs. Sellers and buyers almost always split these costs, as specified in the real estate sales contract.
As indicated below, many of the closing costs result from getting your loan. Since Selectplus Lending has extensive experience with closings and mortgages, we are closing cost experts.
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on Selectplus Lending's experience with mortgage loans, but costs usually 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 sometimes change slightly at closing.
We've provided a general list of these costs below, but we'll provide 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'll be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Various TaxesLoan Origination Fee Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Costs Getting Your Credit Report Up-front Interest Payment Escrow Fees Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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