Don't Forget Closing Costs
Every home sale incurs costs. Sellers and buyers almost always split these costs, as the real estate sales contract specifies.
Many of the closing costs associated with buying a house are associated with getting a mortgage loan. Since PrimeMax Mortgage Group, NMLS#195523 is highly experienced with closings & mortgages, we often explain the details of closing costs.
Loan Estimates (LEs)
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often change by small amounts between delivery of the LE and closing. We go over LEs with buyers every day, so we will be happy to answer your questions about closing costs.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you complete your loan application. At PrimeMax Mortgage Group, NMLS#195523, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Escrow Fees
- Various Taxes
- Loan Origination Fee
- Points — A fee paid to lower your interest rate (optional)
- Appraisal Fee
- Pulling Your Credit Report
- Up-front Interest Payment
- Transfer Taxes and Recording Fees
- Private Mortgage Insurance (PMI)
- Title Insurance
- Flood or Quake Insurance
PrimeMax Mortgage Group, NMLS#195523 can answer questions about these closing costs. Call us at 2565439211.