What are Closing Costs?

There are certain standard costs associated with closing the sale of a house. Buyers and sellers customarily split these costs, as the real estate sales contract specifies.

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

The Loan Estimate (LE)

Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. We base this closing cost estimate on our extensive past experience. Please note that while our LEs are very precise, we cannot always estimate your closing costs to the penny. We answer questions about closing costs every day at Primemax Mortgage Group, NMLS#195523, so don't hesitate to contact us if you have questions.

Below you'll find a fairly generic list of closing costs. We will always provide you with a specific list of your closing costs when we provide your Loan Estimate.

Standard Closing Costs

Loan-Related Costs
  • Taxes
  • Loan Origination Fee
  • 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
Property Taxes
  • Insurance
  • Recording Fees & Transfer Taxes
Homeowners Insurance
  • Private Mortgage Insurance (PMI)
  • Title Insurance
  • Flood / Quake Insurance

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

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Primemax Mortgage Group, NMLS#195523

311 West Grand Ave
Rainbow City, AL 35906