What are Closing Costs?

"Closing Costs" are the fees which cover the various services involved in the sale of residential real estate. Buyers & sellers negotiate to decide how to split these costs.

Many of the closing costs associated with buying residential real estate are associated with getting a mortgage loan. Since Primemax Mortgage Group, NMLS#195523 has extensive experience with closings and mortgages, we are closing cost experts.

Loan Estimates (LEs)

Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. The closing cost estimate is based on our past experience. It's important to note that while our LEs are very precise, we cannot always estimate closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes change slightly at closing.

Below is a general list of closing costs. We will provide you with a specific list of your closing costs when we give you a Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Appraisal Costs
  • Credit Report
  • Up-front Interest Payment
  • Escrow Account
  • Taxes
  • Loan-related costs
  • Points — A fee paid to lower your mortgage interest rate (optional)
Property Taxes
  • Transfer Taxes & Recording Fees
  • Insurance
Homeowners Insurance
  • Title Insurance
  • Flood / Earthquake Insurance if applicable
  • Private Mortgage Insurance (PMI)

At Primemax Mortgage Group, NMLS#195523, we answer questions about closing costs every day. Give us a call: 2565439211.

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Primemax Mortgage Group, NMLS#195523

311 West Grand Ave
Rainbow City, AL 35906