Every home sale incurs certain costs. Buyers and sellers usually split these costs, as the real estate sales contract specifies.
Many of the costs associated with buying residential real estate are associated with getting the mortgage loan. Since Flat Branch Home Loans is highly experienced with mortgages & closings, we are closing cost experts.
Soon after you submit your application, we will give you a "Loan Estimate" of your closing costs. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs often change a little bit between the Loan Estimate (LE) and closing. We go over LEs with buyers every day, so we will be happy to answer your questions about closing costs.
Below you'll find a fairly generic list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Credit Report Up-front Interest Payment Escrow Account Various TaxesLoan Origination Fee Points — lower your mortgage interest rate (optional) Appraisal Fee Property Taxes Recording Fees and Transfer Taxes Insurance Homeowners Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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