"Closing Costs" are the fees that cover the various services involved when you sell or buy a home. Buyers and sellers negotiate the payment of these costs.
As you'll see below, many of the costs result from getting your loan. At Price Mortgage Group LLC, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs usually vary a little bit between delivery of the Loan Estimate (LE) and closing. We field questions about these costs every day at Price Mortgage Group LLC, so don't hesitate to ask if you have questions.
Below is a fairly general list of costs for buying a home. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Various TaxesLoan-related costs Points — lower your mortgage interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Fees Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Title Insurance Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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