"Closing Costs" are the fees that cover various services involved when you sell or buy residential real estate. Buyers & sellers usually negotiate to determine who will pay different portions of these closing costs.
Many of the closing costs associated with buying a house are associated with getting the mortgage loan. At Price Mortgage Group LLC, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Very shortly after you submit your application, we'll provide you with the "Loan Estimate" of your closing costs. The closing costs enumerated in the LE are estimated based on Price Mortgage Group LLC's experience with mortgage loans, but costs often change a little bit between the LE and closing. We field buyers' questions about these costs every day at Price Mortgage Group LLC, so please feel free to ask if you have questions.
Below is a fairly general list of costs for buying residential real estate. We will always provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Pulling YourCredit Report Interest Payment Escrow Fees Various TaxesCosts associated with "originating" your loan Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Costs Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Title Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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