Closing Costs for Home Real Estate Transactions

"Closing Costs" are the fees which pay for various services involved in the sale of a house. Buyers and sellers negotiate these costs.

As indicated below, many of the closing costs result from getting your mortgage. Since Primemax Mortgage Group, NMLS#195523 has extensive experience with mortgages and closings, we often explain the details of closing costs.

Loan Estimate (LE)

Very shortly after you submit your application, we will give you the "Loan Estimate" of your costs. The cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very accurate, we can't always estimate your 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, soon after you have completed your loan application. At Primemax Mortgage Group, NMLS#195523, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.

Standard Closing Costs

Loan-Related Costs

• Pulling YourCredit Report
• Interest Payment
• Escrow Fees
• Various Taxes
• Loan Origination Fee
• Points — A fee paid to lower your mortgage interest rate (optional)
• Appraisal Costs

Property Taxes

• Insurance
• Recording Fees & Transfer Taxes

Homeowners Insurance

• Private Mortgage Insurance (PMI)
• Title Insurance
• Flood or Quake Insurance

Primemax Mortgage Group, NMLS#195523 can help you understand closing costs. Give us a call: 2565439211.