"Closing Costs" are the fees which cover the various services involved in the sale of a home. Buyers & sellers negotiate these costs.
Many of the costs associated with buying a home are associated with getting a mortgage. At Not Your Average Lender, we have extensive experience in mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs at 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 cannot 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 sometimes change slightly at the closing table.
Below you'll find a general list of costs for buying residential real estate. We will provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Credit Report Interest Payment Escrow Fees Various TaxesCosts related to "originating" your loan Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Title Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI)
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