"Closing Costs" are the fees which pay for the various services involved when you sell or buy a house. Buyers & sellers almost always negotiate to determine who will pay different portions of these closing costs.
As you'll see below, many of the closing costs result from getting your loan. Since Secure Mortgage Company is highly experienced with closings and mortgages, we often explain the details of closing costs.
Soon after you submit your application, we'll provide you with a "Loan Estimate" of your costs. The closing costs spelled out in the LE are estimated based on Secure Mortgage Company's experience with mortgage loans, but costs often change by small amounts between delivery of the LE and closing. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes change slightly at the closing table.
We've provided a general list of these costs below, but we'll provide you a specific list of closing costs, with amounts, very soon after you have completed your application. At Secure Mortgage Company, 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 Obtaining Your Credit Report Interest Payment Escrow Fees TaxesLoan Origination Fee Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Title Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI)
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