There are certain standard costs related to closing the sale of a house. Sellers and buyers customarily split these costs, as specified in the sales contract.
As the list below indicates, many of the closing costs result from getting your loan. At Selectplus Lending, we are highly experienced in residential mortgage lending, so we can compile a comprehensive report on 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 many years of past experience. Please note that while our LEs are very accurate, we can't always predict closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that can change slightly at closing.
Below is a general list of costs for buying a home. We will provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs TaxesLoan Origination Fee Points — lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Earthquake Insurance
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