"Closing Costs" are the fees that pay for the various services involved when you sell or buy residential real estate. Sellers and buyers often negotiate these costs.
As indicated below, many of the buyer's costs cover the costs of getting the mortgage loan. Since Primemax Mortgage Group, NMLS#195523 has extensive experience with mortgages & closings, we often explain the details of closing costs.
Soon after you submit your application, we will provide you with a "Loan Estimate" of your closing costs. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often vary 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 sometimes change slightly at the closing table.
Below is a general list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs
Costs related to "originating" your loan Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Escrow Account Various Taxes
Insurance Transfer Taxes & Recording Fees
Flood or Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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