"Closing Costs" are the fees which cover various services involved when you sell or buy a house. Buyers and sellers often negotiate to decide how to split these closing costs.
Many of the closing costs associated with buying a house are associated with getting the loan. Since Secure Mortgage Company has extensive experience with closings and mortgages, we often explain the details of closing costs.
Soon after you apply for a loan, we will give you a "Loan Estimate" of your closing costs. The closing costs specified in the LE are estimated based on our experience with mortgage loans, but costs usually change by small amounts between the LE and closing. We field questions about these costs every day at Secure Mortgage Company, so please feel free to ask if you have questions.
We've provided a general list of closing costs below, but we will 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 will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Loan-related costs Points — lower your interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Escrow Fees Various Taxes Property Taxes InsuranceRecording Fees and Transfer Taxes Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood / Earthquake Insurance
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