Certain standard costs are related to closing the sale of a home. Sellers and buyers customarily split these closing costs, as specified in the sales contract.
Many of the closing costs associated with buying residential real estate are associated with getting a loan. At Price Mortgage Group LLC, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related costs in your "Loan Estimate".
Very soon after you apply for a loan, we'll give you the "Loan Estimate" of your closing costs. We base this closing cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we can't always estimate your closing costs to the penny. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can vary a little bit at closing.
Below is a fairly generic list of costs for buying a home. We will always provide you with a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Various TaxesLoan-related costs Points — A fee paid to lower your interest rate (optional) Appraisal Fee Credit Report Interest Payment Escrow Account Property Taxes Insurance Transfer Taxes and Recording Fees Homeowners Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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