Every home sale incurs fixed costs. Sellers and buyers almost always share these closing costs, as the sales contract specifies.
Many of the costs associated with buying a home are associated with getting the mortgage. At Selectplus Lending, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".
Buyers will receive a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we can't always predict your closing costs to the penny. We explain LEs with buyers every day, so we'd be glad to answer any questions you have about closing costs.
Below is a fairly general list of costs for buying a home. We will provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Costs Credit Report Interest Payment Escrow Account TaxesLoan-related costs Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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