Every home sale involves certain fixed costs. Buyers and sellers almost always share these costs, as the real estate sales contract specifies.
As the list below indicates, many of the closing costs result from getting your loan. Since Custom Lending Group has extensive experience with closings & mortgages, we often explain the details of closing costs.
Very soon after you apply for a loan, we will give you the "Loan Estimate" of your costs. The closing costs spelled out in the Loan Estimate are estimated based on Custom Lending Group's experience with mortgage loans, but costs often change a little bit between delivery of the Loan Estimate (LE) and closing. We field buyers' questions about closing costs every day at Custom Lending Group, so don't hesitate to contact us if we can help answer your questions.
We've provided a general list of these costs below, but we will provide you a specific list of closing costs, with amounts, soon after you complete your application. At Custom Lending Group, we don't believe in surprises, so if your costs change, we will be sure to let you know immediately.
Standard Closing Costs Loan-Related Costs Loan-related costs Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Fee Obtaining Your Credit Report Interest Payment Escrow Fees Various Taxes Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Title Insurance Flood or Earthquake Insurance Private Mortgage Insurance (PMI)
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