"Closing Costs" are the fees which cover various services involved in the sale of a home. Buyers and sellers usually negotiate these closing costs.
Many of the closing costs associated with buying residential real estate are associated with getting the loan. Since Custom Lending Group is highly experienced with mortgages and closings, we are closing cost experts.
Buyers will receive a "Loan Estimate" of closing costs at the time the loan application is submitted to the lender. We base this closing cost estimate on our many years of past experience. Please note that while our LEs are very precise, we can't always predict closing costs to the penny. We go over Loan Estimates with buyers every day, so we will be happy to answer your questions about closing costs.
Below is a fairly generic list of costs for buying residential real estate. We will always provide you with a specific list of your closing costs when we deliver your Loan Estimate.
Standard Closing Costs
Obtaining YourCredit Report Up-front Interest Payment Escrow Fees Various TaxesLoan Origination Fee Points — A fee paid to lower your mortgage interest rate (optional) Appraisal Fee
Insurance Transfer Taxes & Recording Fees
Private Mortgage Insurance (PMI) Title Insurance Flood / Quake Insurance
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