About Closing Costs
Are you looking for a new mortgage loan? We will be glad to help! Give us a call at (317) 288-9434. Ready to begin? Apply Here
All residential real estate transactions involves costs. Sellers and buyers almost always share these costs, as the real estate sales contract specifies.
Many of the costs associated with buying residential real estate are associated with getting a loan. At James M. Dix, we are highly experienced in mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".
The LOAN ESTIMATE
Very shortly after you apply for a loan, we'll give you an "LE" of your costs. We base this cost estimate on our many years of past experience. Please note that while our LEs are very accurate, we cannot always estimate costs to the penny. We explain Loan Estimatess with buyers every day, so we will be happy to answer any questions you have about closing costs.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your application. At James M. Dix, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
- Appraisal Costs
- Getting Your Credit Report
- Up-front Interest Payment
- Escrow Account
- Costs related to "originating" your loan
- Transfer Taxes and Recording Fees
- Flood or Quake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
At James M. Dix, we answer questions about closing costs every day. Call us at (317) 288-9434.