All residential real estate transactions incurs certain costs. Sellers and buyers customarily split these costs, as the real estate sales contract specifies.
Many of the closing costs associated with buying a home are associated with getting the mortgage loan. At Executive Lending Group, we are highly experienced in mortgage lending, so we can compile a comprehensive list of mortgage-related closing costs in your "Loan Estimate".
Buyers get a "Loan Estimate" of closing costs around the time the loan application is submitted to the lender. The closing costs specified in the LE are estimated based on Executive Lending Group's experience with mortgage loans, but costs usually change by small amounts between the LE and closing. We handle questions about closing costs every day at Executive Lending Group, so don't hesitate to ask if we can help answer your questions.
We've provided a general list of these costs below, but we'll give you a specific list of closing costs, with amounts, soon after you have completed your loan application. At Executive 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 interest rate (optional) Appraisal Fee Pulling Your Credit Report Up-front Interest Payment Escrow Fees TaxesLoan Origination Fee
InsuranceRecording Fees & Transfer Taxes
Title Insurance Flood / Quake Insurance if applicablePrivate Mortgage Insurance (PMI)
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