Every home sale incurs certain fixed costs. Buyers and sellers customarily share these costs, as the sales contract specifies.
As the list below indicates, many of the closing costs result from getting your loan. Since Custom Lending Group is highly experienced with mortgages and closings, we often explain the details of closing costs.
Very shortly after you apply for a loan, we'll give you the "Loan Estimate" of your costs. The cost estimate is based on the loan officer's past experience. It's important to note that while our LEs are very precise, we cannot always predict closing costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and highlighting costs that sometimes change slightly at closing.
Below is a general list of closing costs. We will provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs Loan-Related Costs Loan-related costs Points — These are costs you pay up-front to lower your interest rate (optional) Appraisal Fee Credit Report Interest Payment Escrow Fees Various Taxes Property Taxes Insurance Transfer Taxes & Recording Fees Homeowners Insurance Flood or Quake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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