Certain standard costs are associated with closing the sale of a house. Buyers and sellers usually share these costs, as the real estate sales contract specifies.
As you'll see below, many of the buyer's costs cover the costs of originating the mortgage loan. Since Custom Lending Group has extensive experience with mortgages & closings, we are closing cost experts.
Soon after you apply for a loan, we will give you a "Loan Estimate" of your closing costs. We base this cost estimate on our extensive past experience. It's important to note that while our LEs are very precise, we cannot always predict costs to the penny. We will be glad to review the "Loan Estimate," answering your questions and pointing out costs that sometimes vary a little bit at the closing table.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, very soon after you have completed your loan 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
Points — These are costs you pay up-front to lower your mortgage interest rate (optional) Appraisal Costs Obtaining Your Credit Report Up-front Interest Payment Escrow Fees Various TaxesCosts related to "originating" your loan
Insurance Transfer Taxes and Recording Fees
Flood / Earthquake Insurance Private Mortgage Insurance (PMI) Title Insurance
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