"Closing Costs" are the fees that cover the various services involved when you sell or buy a house. Buyers and sellers usually negotiate the payment of these costs.
Many of the costs associated with buying a house are associated with getting a mortgage. At Secure Mortgage Company, we have extensive experience in residential mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs in your "Loan Estimate".
Soon after you submit your application, we'll provide you with a "Loan Estimate" of your closing costs. The closing costs enumerated in the LE are estimated based on our experience with mortgage loans, but costs usually vary by small amounts between delivery of the LE and closing. We review Loan Estimates with buyers almost every day, so we'd be glad to answer any questions you have about closing costs.
Below is a general list of closing costs. We will always provide a specific list of your closing costs when we give you a Loan Estimate.
Standard Closing Costs Loan-Related Costs Escrow Fees Various TaxesLoan-related costs Points — lower your interest rate (optional) Appraisal Fee Credit Report Interest Payment Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Title Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI)
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