There are certain standard costs associated with closing the sale of a home. Sellers and buyers almost always share these closing costs, as specified in the sales contract.
Many of the closing costs associated with buying a home are associated with getting a mortgage. Since Not Your Average Lender is highly experienced with closings and mortgages, we are closing cost experts.
Soon after you apply for a loan, we will provide you with a "Loan Estimate" of your closing costs. The closing cost estimate comes out of our past experience. Please note that while our LEs are very accurate, we can't always predict your closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes change slightly at the closing table.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, very 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 Costs related to "originating" your loan Points — lower your mortgage interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Escrow Fees Various Taxes Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Title Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI)
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