"Closing Costs" are the fees that pay for various services involved when you sell or buy residential real estate. Buyers & sellers almost always negotiate these costs.
As indicated below, many of the buyer's closing costs cover the costs of getting the loan. Since Price Mortgage Group LLC is highly experienced with closings and mortgages, we often explain the details of closing costs.
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs spelled out in the LE are estimated based on our experience with mortgage loans, but costs usually change a little bit between delivery of the LE and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that can vary a little bit at the closing table.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, soon after you complete your loan application. At Price Mortgage Group LLC, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Credit Report Up-front Interest Payment Escrow Account Various TaxesCosts related to "originating" your loan Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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