"Closing Costs" are the fees that cover the various services involved when you sell or buy residential real estate. Sellers and buyers almost always negotiate to determine who will pay different portions of these closing costs.
Many of the costs associated with buying residential real estate are associated with getting a mortgage loan. Since Price Mortgage Group LLC is highly experienced with closings & mortgages, we often explain the details of closing costs.
Very shortly after you apply for a loan, we will provide you with the "Loan Estimate" of your closing costs. The closing costs spelled out in the LE are estimated based on Price Mortgage Group LLC's experience with mortgage loans, but costs often vary by small amounts between the LE and closing. We go over LEs with buyers every day, so we will be happy to answer your questions about closing costs.
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 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 Interest Payment Escrow Account TaxesLoan-related costs Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Obtaining YourCredit Report Property Taxes InsuranceRecording Fees & Transfer Taxes Homeowners Insurance Title Insurance Flood or Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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