"Closing Costs" are the fees which cover the various services involved when you sell or buy a home. Buyers and sellers almost always negotiate to decide how to split these costs.
As you'll see below, many of the closing costs result from getting your loan. At Price Mortgage Group LLC, we are highly experienced in residential mortgage lending, so we can provide you with a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Soon after you apply for a loan, we'll give you the "Loan Estimate" of your closing costs. We base this cost estimate on our many years of past experience. Please note that while our LEs are very precise, we cannot always predict your costs to the penny. We go over Loan Estimates with buyers every day, so we'd be glad to answer your questions about closing costs.
Below you'll find a fairly generic list of costs for buying residential real estate. 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 Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Escrow Fees Various TaxesCosts associated with "originating" your loan Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Title Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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