About Closing Costs
"Closing Costs" are the fees that pay for the various services involved when you sell or buy residential real estate. Sellers & buyers almost always negotiate to decide how to split these costs.
Many of the costs associated with buying residential real estate are associated with getting the mortgage. At Primemax Mortgage Group, NMLS#195523, we have extensive experience in residential mortgage lending, so we can compile a comprehensive report on mortgage-related closing costs in your "Loan Estimate".
Loan Estimate (LE)
Buyers will get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. It's important to note that while our LEs are very precise, we can't always estimate costs to the penny. We field buyers' questions about these costs every day at Primemax Mortgage Group, NMLS#195523, so please be sure to contact us if you have questions.
We've provided a general list of closing costs below, but we'll give you a specific list of closing costs, with amounts, very soon after you complete your application. At Primemax Mortgage Group, NMLS#195523, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs
- Escrow Fees
- Loan-related costs
- Points — lower your interest rate (optional)
- Appraisal Costs
- Credit Report
- Up-front Interest Payment
- Recording Fees & Transfer Taxes
- Title Insurance
- Flood or Earthquake Insurance
- Private Mortgage Insurance (PMI)
Primemax Mortgage Group, NMLS#195523 can help you understand closing costs. Call us at 2565439211.