Every home sale involves fixed costs. Sellers and buyers customarily split these closing costs, as the sales contract specifies.
As you'll see below, many of the buyer's costs are related to the costs of getting the loan. Since Custom Lending Group has extensive experience with mortgages and closings, we can help you understand your closing costs.
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 cannot always estimate your closing costs to the penny. We go over Loan Estimates with buyers almost every day, so we'd be glad to answer the you have about closing costs.
Below you'll find a generic list of costs for buying a home. We will provide you with a specific list of your closing costs when we provide your Loan Estimate.
Standard Closing Costs Loan-Related Costs Escrow Fees TaxesLoan-related costs Points — A fee paid to lower your interest rate (optional) Appraisal Costs Getting Your Credit Report Interest Payment Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Flood / Earthquake Insurance if applicablePrivate Mortgage Insurance (PMI) Title Insurance
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