All residential real estate sales involves costs. Buyers and sellers almost always share these closing costs, as specified in the sales contract.
Many of the costs associated with buying a home are associated with getting the mortgage loan. At Custom Lending Group, we have extensive experience in residential mortgage lending, so we can compile a comprehensive report on mortgage-related costs in your "Loan Estimate".
Soon after you submit your application, we will provide you with the "Loan Estimate" of your costs. The closing costs specified in the LE are estimated based on Custom Lending Group's experience with mortgage loans, but costs usually change a little bit between delivery of the Loan Estimate (LE) and closing. We go over LEs with buyers every day, so we will be happy to answer your questions about closing costs.
Below is a fairly generic list of closing costs. We will provide a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee Pulling Your Credit Report Interest Payment Escrow Account TaxesLoan-related costs
Insurance Transfer Taxes & Recording Fees
Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance
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