Don't Forget Closing Costs

"Closing Costs" are the fees which pay for the various services involved when you sell or buy residential real estate. Sellers & buyers almost always negotiate to determine who will pay different portions of these costs.

As indicated below, many of the costs result from getting your mortgage. At Professional Choice Mortgage, we are highly experienced in mortgage lending, so we can provide you with a comprehensive list of closing costs related to your mortgage in your "Loan Estimate".

Loan Estimates (LEs)

Soon after you apply for a loan, we'll give you a "Loan Estimate" of your costs. The closing costs enumerated in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change a little bit between the Loan Estimate (LE) and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can vary a little bit at the closing table.

Below you'll find a fairly generic list of costs for buying a home. We will provide a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs

• Escrow Account
• Various Taxes
• Loan Origination Fee
• Points — These are costs you pay up-front to lower your mortgage interest rate (optional)
• Appraisal Costs
• Credit Report
• Up-front Interest Payment

Property Taxes

• Recording Fees and Transfer Taxes
• Insurance

Homeowners Insurance

• Title Insurance
• Flood / Earthquake Insurance if applicable
• Private Mortgage Insurance (PMI)

Professional Choice Mortgage can help you understand closing costs. Give us a call: 8148613310.