"Closing Costs" are the fees which cover various services involved in the sale of residential real estate. Buyers and sellers negotiate to determine who will pay different portions of these closing costs.
Many of the costs associated with buying residential real estate are associated with getting the mortgage loan. Since Primemax Mortgage Group, NMLS#195523 has extensive experience with mortgages & closings, we can help you understand your closing costs.
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. This cost estimate comes out of our past experience. Please note that while our LEs are very accurate, we can't always estimate closing costs to the penny. We handle buyers' questions about these costs every day at Primemax Mortgage Group, NMLS#195523, so please be sure to contact us if we can help answer your questions.
Below is a general list of closing costs. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Points — lower your interest rate (optional) Appraisal Costs Pulling Your Credit Report Interest Payment Escrow Fees Various TaxesCosts associated with "originating" your loan Property Taxes Transfer Taxes & Recording Fees Insurance Homeowners Insurance Title Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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