All residential real estate sales involves certain fixed costs. Buyers and sellers almost always share these costs, as specified in the sales contract.
As you'll see below, many of the buyer's closing costs cover the costs of originating the mortgage loan. At Custom Lending Group, we are highly experienced in mortgage lending, so we can compile a comprehensive report on closing costs related to your mortgage in your "Good Faith Estimate".
Soon after you apply for a loan, we'll provide you with the "Good Faith Estimate" of your costs. We base this cost estimate on our extensive past experience. Please note that while our GFEs are very precise, we can't always predict closing costs to the penny. We explain GFEs with buyers almost every day, so we are 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 deliver your Good Faith Estimate.
Standard Closing Costs
Points — lower your mortgage interest rate (optional) Appraisal Costs Credit Report Interest Payment Escrow Fees TaxesLoan-related costs
Transfer Taxes & Recording Fees Insurance
Title Insurance Flood / Earthquake Insurance Private Mortgage Insurance (PMI)
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