"Closing Costs" are the fees that cover the various services involved when you sell or buy a house. Buyers & sellers usually negotiate to determine who will pay different portions of these costs.
As the list below indicates, many of the costs result from getting your mortgage. Since Executive Lending Group has extensive experience with mortgages & closings, we often explain the details of closing costs.
Soon after you submit your application, we will give you a "Loan Estimate" of your costs. We base this closing cost estimate on our extensive past experience. Please note that while our LEs are very precise, we cannot always predict costs to the penny. We handle questions about these costs every day at Executive Lending Group, so please feel free to contact us if we can help answer your questions.
We've provided a general list of these costs below, but we will give you a specific list of closing costs, with amounts, soon after you complete your loan application. At Executive 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 Points — lower your interest rate (optional) Appraisal Costs Credit Report Up-front Interest Payment Escrow Account Various TaxesCosts associated with "originating" your loan Property Taxes Recording Fees & Transfer Taxes Insurance Homeowners Insurance Flood / Quake Insurance Private Mortgage Insurance (PMI) Title Insurance
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