Closing Costs
Certain standard costs are associated with closing the sale of a house. Buyers and sellers usually share these costs, as the sales contract specifies.
As indicated below, many of the buyer's closing costs are related to the costs of getting the loan. At Custom Lending Group, we have extensive experience in residential mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Loan Estimate (LE)
Very soon after you submit your application, we'll provide you with the "Loan Estimate" of your costs. We base this closing cost estimate on our many years of past experience. It's important to note that while our LEs are very precise, we can't always estimate closing costs to the penny. We explain Loan Estimates with buyers every day, so we are happy to answer the you have about closing costs.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Custom Lending Group, we don't believe in surprises, so if your costs change, we'll be sure to let you know immediately.
Standard Closing Costs
Loan-Related Costs
- Up-front Interest Payment
- Escrow Fees
- Various Taxes
- Loan-related costs
- Points — A fee paid to lower your mortgage interest rate (optional)
- Appraisal Fee
- Credit Report
Property Taxes
- Insurance
- Recording Fees and Transfer Taxes
Homeowners Insurance
- Flood / Earthquake Insurance
- Private Mortgage Insurance (PMI)
- Title Insurance
Custom Lending Group can answer questions about these closing costs. Call us: 7072522700.