"Closing Costs" are the fees which cover the various services involved in the sale of residential real estate. Sellers and buyers negotiate to determine who will pay different portions of these costs.
As you'll see below, many of the buyer's closing costs cover the costs of originating the loan. At Secure Mortgage Company, we have extensive experience in mortgage lending, so we can provide you with a comprehensive report on mortgage-related closing costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very accurate, we can't always predict your costs to the penny. We review LEs with buyers almost every day, so we will be happy to answer the you have about closing costs.
Below you'll find a fairly generic list of closing costs. We will provide a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Interest Payment Escrow Account TaxesCosts related to "originating" your loan Points — lower your interest rate (optional) Appraisal Fee Credit Report Property Taxes Transfer Taxes and Recording Fees Insurance Homeowners Insurance Title Insurance Flood or Quake Insurance Private Mortgage Insurance (PMI)
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