Your Closing Costs
Every home sale incurs certain fixed costs. Buyers and sellers usually split these costs, as the real estate sales contract specifies.
As you'll see below, many of the costs result from getting your mortgage loan. Since Professional Choice Mortgage is highly experienced with mortgages and closings, we can help you understand your closing costs.
Loan Estimates (LEs)
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. Please note that while our LEs are very accurate, we can't always estimate closing costs to the penny. We review LEs with buyers almost every day, so we'd be glad to answer the you have about closing costs.
We've provided a general list of closing costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your loan application. At Professional Choice Mortgage, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Costs associated with "originating" your loan
- Points — lower your interest rate (optional)
- Appraisal Costs
- Getting Your Credit Report
- Up-front Interest Payment
- Escrow Fees
- Recording Fees and Transfer Taxes
- Flood / Quake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
Professional Choice Mortgage can help you understand closing costs. Give us a call at 8148613310.