Certain standard costs are associated with closing the sale of a house. Sellers and buyers usually split these closing costs, as the sales contract specifies.
As indicated below, many of the buyer's closing costs are related to the costs of originating the loan. At Custom Lending Group, we have extensive experience in mortgage lending, so we can compile a comprehensive list of 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 many years of past experience. It's important to note that while our LEs are very precise, we cannot always estimate your costs to the penny. We handle buyers' questions about closing costs every day at Custom Lending Group, so please feel free to ask if we can help answer your questions.
We've provided a general list of closing costs below, but we will provide you a specific list of closing costs, with amounts, very soon after you have completed your 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 Obtaining YourCredit Report Interest Payment Escrow Account Various TaxesLoan-related costs Points — lower your mortgage interest rate (optional) Appraisal Costs Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Private Mortgage Insurance (PMI) Title Insurance Flood or Quake Insurance
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