"Closing Costs" are the fees that cover the various services involved when you sell or buy residential real estate. Sellers and buyers negotiate the payment of these costs.
As the list below indicates, many of the closing costs result from getting your loan. Since Not Your Average Lender has extensive experience with closings and mortgages, we often explain the details of closing costs.
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. Please note that while our LEs are very precise, we can't always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that can change slightly at closing.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you have completed your application. At Not Your Average Lender, 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 Points — A fee paid to lower your interest rate (optional) Appraisal Costs Credit Report Interest Payment Escrow Fees TaxesCosts related to "originating" your loan Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance
Looking for a new home loan? Fill out the following form to get a fast quote from us.