Certain standard costs are associated with closing the sale of a house. Buyers and sellers usually split these closing costs, as the real estate sales contract specifies.
As you'll see below, many of the buyer's closing costs are related to the costs of originating the mortgage loan. At Secure Mortgage Company, we are highly experienced in residential mortgage lending, so we can compile a comprehensive list of mortgage-related costs in your "Loan Estimate".
Buyers will get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the Loan Estimate are estimated based on our experience with mortgage loans, but costs often vary a little bit between the LE and closing. We will be glad to review the "Loan Estimate," answering questions and highlighting costs that sometimes change slightly at closing.
We've provided a general list of closing costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your loan 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 Appraisal Costs Getting Your Credit Report Up-front Interest Payment Escrow Account Various TaxesCosts related to "originating" your loan Points — These are costs you pay up-front to lower your interest rate (optional) Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance
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